Henderson toasts Brewery stake sale

Samantha McClary 30/07/2010 14:00

Henderson Global Investors, on behalf of its £1bn Henderson Retail Warehouse Fund, has completed the sale of a 25% stake in the Brewery in Romford, Essex.

The stake has been bought by PRUPIM for £44.2m – a 6.06% yield.

The 530,000 sq ft retail park is let to tenants including Sainsbury’s, JD Sports, Bank, Vue cinemas and TK Maxx. Henderson, which will continue to manage the property, said the sale realigned the fund’s weightings and provided capital for reinvestment.

Cushman & Wakefield and Morgan Williams advised Henderson; King Sturge acted for PRUPIM.

samantha.mcclary@estatesgazette.com

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