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 for£21 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 is£1.5 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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