Leicester's Haymarket shopping centre has changed hands for the second time in just over a year, with Dutch-owned ING Real Estate paying£77 million for the 340,000 sq ft (31,585 sq m) centre.
The vendor, Fairacre, only bought the mall in spring last year from Kingfisher's property company Chartwell Land. It reportedly paid£60 million, and the 25 per cent-plus profit on the deal reflects, in part, the hardening of yields on shopping centres over the past year.
However, it also reflects a re-rating of Leicester following John Lewis Partnership's decision to anchor Hammerson's extension to the Shires centre.
The Haymarket Centre fronts Humberstone Gate in the centre of the city, and there is existing planning permission for an extension to the site of Leicester's famous Haymarket Theatre. The council is keen to see the extension as part of the revitalisation of the St George's district of the city centre.
Hoddell Stotesbury Morgan advised Fairacre.
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