NRR: NewRiver Retail sells Bramley Shopping Centre in Leeds
Bramley Shopping Centre has 54 units spread across 121,342 sq ft. The units are let top the likes of Tesco, Farmfoods, Boots, Bright House, Greggs and Pound Stretcher. NewRiver Retail bought the property in 2010 as part of a package of five centres and, over the past four years, has concentrated on enhancing the centre and pushing rents up.
NewRiver Retail will get £18.5m for the property, equivalent to an initial yield of 7.2% and 1.4% more than the valuation ascribed to it at the end of March 2014.