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TIAA Henderson Real Estate acquires retail parade in Romford, London

TIAA Henderson Real Estate (TH Real Estate) has acquired Market Place - a well let retail parade in Romford, Greater London, for c.£12.3m, representing a net initial yield of 7.0%.

The asset was acquired on behalf of a private fund for Middle Eastern clients, from Development Securities.

The purchase is in line with the fund strategy to maintain a long average weighted unexpired lease-term, with the majority of the income secured to strong tenants including Aldi Stores Ltd, Iceland Foods Ltd, Boot UK Ltd and TJ Morris Ltd (13.6 years average).

This article is intended solely for the use of professionals and is not for general public distribution.
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.

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