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British Land pays £240m for Plymouth mall

first_img British Land pays £240m for Plymouth mall Share Show Comments ▼ whatsapp Thursday 6 January 2011 4:34 am Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comcenter_img whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org British Land, the second-biggest landlord by market value, has bought a mall in Plymouth for £240m to add to its growing retail portfolio.The 425,000 square feet Drake Circus shopping centre was bought at a net initial yield of six percent, with the potential for income growth through asset management, the real estate investment trust said in a statement.“We see significant potential to add value at Drake Circus over the coming years by leveraging our extensive asset management skills and retailer relationships,” British Land chief executive Chris Grigg said.Located in the middle of Plymouth city, the mall has a catchment area covering Devon and Cornwall and an annual footfall of nearly 19 million people, and is anchored by tenants including Primark, Marks & Spencer and Next.Real estate investors have been showing new interest in UK malls, which they expect have hit a bottom in capital values and rents, and are set to rise as the economy stages a tentative recovery. John Dunne last_img read more