Property News - Wolverhampton deal

Halladale Group has paid£6 million for 2-18 Princess Street in Stafford and the Boscomoor Shopping Centre at Penkridge in Wolverhampton. The deal reflects an initial yield of 8.5 per cent. Princess Street is a parade of eight shops totalling 3,500 sq m opposite the Sheridan Shopping Centre.

Tenants include Motorworld, Walmsley's and Farm Food. The 2,100 sq m Boscomoor Shopping Centre is anchored by Somerfield and Alldays. It also has planning consent for up to 635 sq m of additional retail space. Halladale property director Ken Lindsay said: 'These acquisitions are in line with our strategy of identifying properties that deliver attractive yields and offer interesting asset management opportunities, including redevelopment potential.'