British Land sells The Peacocks, Woking
British Land has exchanged contracts with a private investor to sell its Woking Shopping Centre, The Peacocks, for £116 million, reflecting a net initial yield of 5.75% and in line with the March 2008 valuation.The Peacocks offers a mix of 72 retailers and 5 anchor stores all loca ted within almost half a million sq ft of retail and leisure space.
Andrew Jones, British Land Director and Head of Retail, said: “We are in a difficult investment market at the moment; however we are continuing to successfully implement our disposal strategy and have achieved an attractive price for a good asset. This sale is in line with our strategy to focus the retail portfolio towards those assets which we believe will benefit the most from our occupier-led strategy.”
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