U+I, the regeneration developer and investor, has sold Kingsland shopping centre in Thatcham for £16.1 million from its investment portfolio.
This comprises the sale of the Waitrose foodstore to Knight Frank Investment Management on 22 December 2017 and the remaining retail to Sheet Anchor Evolve Limited on 31 January 2018.
The combined sale price was above book value as at 31 August 2017, reflecting a blended yield of 5.86%.
This latest sale takes disposals in the investment portfolio to £38.9 million for the financial year to date.
Matthew Weiner, chief executive of U and I Group, said: "The sale of the Kingsland Shopping Centre marks further progress on our investment disposals strategy. We are pleased to have secured this sale above book value and are well placed to acquire new assets that align with our focus on regeneration."
At 8:46am: (LON:UAI) U and I Group Plc share price was -0.25p at 202.75p