LaSalle Investment Management buys Doncaster Leisure Park
Published: 28 January, 2014
LaSalle Investment Management has acquired Doncaster Leisure Park from a fund managed by Helix Property Advisors, for around £9.6m reflecting a blended yield of 6.91 per cent.
The transaction involves the purchase of the existing seven screen Vue cinema and funding for an extension to create four additional screens and two restaurant units. These units have already been pre-let to Pizza Express and Nando’s, which have signed leases for 25 and 20 years respectively, whilst Vue has extended its lease to 20 years. The development package has been prepared and managed by Alaska Development Consultants.
John Yeend, director at LaSalle Investment Management, said: “The acquisition and development funding will provide a core investment and increase the leisure assets in our portfolio.”
LaSalle was advised by Tim Peters Associates and Montagu Evans whilst Helix was advised by Whitmarsh Holt Young.