Property News - Parkwood buys Cherry Tree

Parkwood, the shopping centre specialist set up by Robert Maxted, Derek Lucie-Smith and John Lorimer, has bought the Cherry Tree Centre at Wallasey, Merseyside, from Dunedin Property for£18.8 million. The rent roll is£1.4 million a year, yielding 7 per cent. Tenants include Wilkinson, Littlewoods, Kwik Save, WHSmith, Carphone Warehouse and JJB Sports.