Edgerley Simpson Howe LLP

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Recent investment Transaction

Middle Eastern investors still hot for UK property - Jan '16

22nd January 2016

90 North, the specialists in Shariah-compliant real estate investment, has acquired a Morrisons and Travelodge developed by Land Securities in 2014 in the centre of Crawley for £42.5m at a blended yield of 5.75%. The property at 100 High Street has 81,760 sq. ft. of retail including 75,240 sq. ft. let to Morrisons at £2.66 per sq. ft. until 2039 with breaks in 2029 and 2034. Reviews are linked to RPI. There are also 2 restaurants let to Turtle Bay and Creams. The Travelodge has 110 bedrooms and is let until 2038 with reviews also linked to RPI. Edgerley Simpson Howe acted for Land Securities