LaSalle Investment Management Acquires Doncaster Leisure Park
January 28 2014 - LaSalle has announced the acquisition of Doncaster Leisure Park from a fund managed by Helix Property Advisors Limited, for around £9.6m reflecting a blended yield of 6.91%.
LaSalle Investment Management (LaSalle) has announced the acquisition of Doncaster Leisure Park from a fund managed by Helix Property Advisors Limited, for around £9.6m reflecting a blended yield of 6.91%.
The transaction involves the purchase of the existing seven screen Vue cinema and funding for an extension to create four additional screens and two restaurant units. These units have already been pre-let to Pizza Express and Nando’s, which have signed leases for 25 and 20 years respectively, whilst Vue has extended its lease to 20 years. The development package has been prepared and managed by Alaska Development Consultants Limited.
The property, situated off Herten Way, is 1.5 miles to the east of Doncaster town centre and south of Doncaster Race Course and Doncaster Rovers football ground. It is adjacent to other retail and leisure outlets which support the park, including the Dome Leisure Centre.
John Yeend, Director at LaSalle Investment Management said: “The acquisition and development funding will provide a core investment and increase the leisure assets in our portfolio.”
LaSalle was advised by Tim Peters Associates and Montagu Evans whilst Helix was advised by Whitmarsh Holt Young.
LaSalle was advised by Jones Lang LaSalle whilst Savills advised Westbrook Partners.