LGIM Real Assets has bought Broadway Plaza in Birmingham for £47m from Aviva Investors.
The 280,000 sq ft leisure scheme, anchored by Odeon, was bought for L&G’s leisure fund. Other tenants include Hollywood Bowl, Travelodge, Nuffield Health, Rock Up and an independent casino.
The scheme generates income of around £3.5m per year, reflecting a net initial yield of 7.5%. The weighted average unexpired lease term is 14 years.
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Including:
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