😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

BRIEF-Schroder EU Real Estate Investment Trust buys shopping centre in Seville

Published 2017/05/23, 08:16
Updated 2017/05/23, 08:20
© Reuters.  BRIEF-Schroder EU Real Estate Investment Trust buys shopping centre in Seville
SERE
-

May 23 (Reuters) - Jse: Scd - Schroder European Real Estate Investment Trust Plc Acquires Shopping Centre In Seville, Spain SERE.L

* Schroder European Real Estate Investment Trust Plc has completed the purchase of the Metromar shopping centre in Seville, Southern Spain, from UBS Asset Management

* The total purchase price is approximately 52.5 million euros, reflecting a net initial yield of 6.2%

* SEREIT is acquiring a 50% stake in joint venture with the Schroder advised Immobilien Europa Direkt

* The 23,500 sqm shopping centre is let to 50 tenants, with a significant convenience retail offering, anchored by a 2,300 sqm Mercadona grocery supermarket

* Metromar's sales growth over the past three years has been robust: 4% in 2014; 8% in 2015; and 4% in 2016

* The centre is located in a densely populated area, with a catchment of 60,000 people in the immediate vicinity, and a further 250,000 within a 15 minute drive

* The asset is 90% let by area (98% by ERV) and generates an annual rent roll of 4 million euros. Source text for Eikon: ID: Further company coverage: SERE.L

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.