UK asset manager Hermes is to sell its 50% stake in the Princes Square shopping centre in Glasgow, Scotland. The asking price for the centre, which is co-owned by the insurer Clerical Medical, is in excess of £61.13 mln (EUR 91.14 mln), reflecting a net yield of 4.85%. The average lease length for the retail tenants is eight years, IPE Real Estate has reported. The 49-unit mall specialises in fashion retail, and includes two floors occupied by restaurants.
Premium subscriber content – please log in to read more or take a free trial.
