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News Release

Manchester

Threadneedle acquires Greater Manchester shopping centre

Eden Square Shopping Centre, Urmston sold for £13.3m


Manchester, 26 September, 2014 – Threadneedle Investments has bought Eden Square Shopping Centre in Urmston from ASK Developments for £13.3m representing a headline net initial yield of 7.2%.

The property was completed by ASK in 2012 and comprises 68,200 sq ft of retail space over 20 individual store units, together with a 600-space customer car park. The property is let to tenants including Iceland, Poundland, Boots, Aldi and Costa Coffee, and provides a WAULT of 13.4 years, with 40% of the total rent subject to RPI-linked or fixed uplifts.

Edward Blood, Director of Capital Markets at JLL said: “Eden Square is a successful shopping centre in a popular suburb of Manchester. The location and strong tenant mix make it a desirable asset and we are delighted to have secured the acquisition on behalf of Threadneedle.”

JLL represented Threadneedle while ASK was represented by Tushingham Moore.​