Land Securities has sold the freehold interest in the Silk Bridge Retail Park, The Hyde, Hendon, London NW4, to Lothbury Property Trust for £13 million, which reflects a net initial yield of about 5.9 per cent.
The property, which has an open A1 non-food consent, has been refurbished by Land Securities. It provides 3,980 sq m and is occupied by Allied Carpets, Comet and Halfords. Each lease was granted from the end of 2002 at rents bet-ween £183 and £226 per sq m.
Wilkinson Williams acted for Land Securities. Lothbury was advised by Atlantic Fund Management and Edgerley Simpson Howe & Partners.