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Waypoint buys Lowestoft mall

Specialist retail investor Waypoint Asset Management has bought The Britten Centre in Lowestoft, Suffolk, on behalf of a client, for £6.65m, reflecting an 8.7% net initial yield. The property was bought from DTZ Investors.
CoStar News
February 17, 2015 | 7:24 P.M.

Providing the seaside town’s only enclosed shopping centre, the property totals 55,000 sq ft of retail across 19 units and is anchored by Poundland and Iceland. Around 80% of the centre’s income is derived from national operators including EE, Card Factory, Superdrug, WH Smith and Holland & Barrett.

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