IM Properties, on behalf of Charity Vision, has bought Tybridge Street Retail Park in Worcester from AXA Real Estate for £13.37 million, reflecting a net initial yield of 7.9%. The 72,300 sq ft property is let to Homebase and PC World for a further 15 years, and is situated on the western edge of the city centre. A corner of the property has been sold off on long leasehold to McDonald’s. Jones Lang LaSalle acted for IM Properties and Wilkinson Williams acted for AXA.
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