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.
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $69.5 billion of assets in private and public real estate property and debt investments as of Q4 2019. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://www.lasalle.com, and LinkedIn.
NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.