LXB in £22.8m Greenwich disposal
Published: 08 December, 2015
LXB Retail Properties has forward-sold its Brocklebank retail park in Greenwich to The Charities Property Fund
The deal reflects an underlying yield of 4.25 per cent and the Charities Property Fund, managed by Savills Investment Management, will fund the development costs with LXB retaining responsibility for overseeing the development and for letting the final remaining unit. Pre-lets have already been exchanged with Primark, Next and Aldi.
LXB CEO Tim Walton said: "The final outcome is dependent on the terms which can be achieved on the final unit but with adjacency to three major retail brands in a great (and growing) catchment area, there is every reason to be optimistic."