Acting for Hermes Real Estate Investment Management, KLM have sold the investment to the WH Smith unit at 54-56 The Parade, Leamington Spa to CBRE GI. The sale was completed in December 2013 at a price of £4.11 million which indicated a net initial yield lower than the quoted 5.5%.
This reflects the buoyant retail investment market, with an appetite for strong market towns let to good quality covenants.
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