Retail Property - UBS's Triton buys Packhorse at Huddersfield

UBS's Triton Property Fund has bought the 90,000 sq ft (8,360 sq m) Packhorse Centre at Huddersfield from Chester Properties and Cargill Investments forÂŁ21 million, reflecting a net initial yield of 7.4 per cent.

The centre is anchored by Argos, with other tenants including Phones 4 U, Birthdays, Carphone Warehouse, Warren James, Dillons, Greenwoods and Stead & Simpson.

The total annual rent roll for the shopping centre isÂŁ1.5 million.

Chester Properties director Tom Tyler said: 'Through a carefully coordinated asset management and management programme we have substantially enhanced the performance of this shopping centre.'

Franc Warwick represented Chester Properties and Capital Retail advised UBS.

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