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TH Real Estate acquires mixed use Hackney asset

Travelodge Hackney Central

TH Real Estate, on behalf of its UK Balanced Fund – Henderson UK Property OEIC (HUKPOEIC), has completed the acquisition of a freehold building on Amhurst Road, adjacent to Hackney Central station, in London.

The mixed use asset was acquired directly from the developer for £13.5m, reflecting a net initial yield of 5.88%.

The hotel and retail development is let to Travelodge until 2040 with retailers including TK Maxx and Carphone Warehouse.

HUKPOEIC were advised by Lewis Ellis.

Marcus Langlands Pearse, Fund Manager, HUKPOEIC, comments: This acquisition was in line with the HUKPOEIC’s strategy of investing in fast improving London boroughs where commercial property pricing often lags residential price growth. The acquisition further bolsters the Funds strong, long-let diverse London sub portfolio.

Disclaimer Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services. The value of investments and any income will fluctuate (this may be partly be the result of exchange rate fluctuation) and investors may not get back the full amount invested. Where opinions have been expressed, they are based on current market conditions and are subject to change without notice.

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