Capital & Regional, asset manager of the Mall Fund, has sold the Bexleyheath Shopping Centre in South East London to LaSalle Investment Management for a price of £97.9m, reflecting a net initial yield of 7.55 per cent.
The sale price includes £3.3m which is conditional upon achieving rental uplifts on certain lease renewals and compares with the property's valuation of £90.7m at 30 September 2009.
Completion of the sale is expected to occur in early December 2009.