Chester Properties has made its biggest investment in retail by buying £90m worth of shopping centres in two deals. The UK based private property company, which was set up in 1995, has bought the Saddlers Centre in Walsall for £50m and Vicarage Fields in Barking in a joint Venture for £40m. Chester is buying Vicarage Fields with Schroders’ Gresham Property Partners at an initial yield of 6.6%. Chester has been asset manager of the centre since HSBC’s special property investment fund bought it in July 2002 from Reit. Gooch Cunliffe Whale advised Chester Properties on the purchase.
Contact Keith Whale 020 7647 4800