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Bovey Tracey

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Buildings: PrincesshayLocation: ExeterClient: Crown Estates

Nuveen has placed its 50% stake in <a href="https://completelyretail.co.uk/shops-to-rent/exeter">Exeter's</a> <a href="https://completelyretail.co.uk/scheme/princesshay-exeter-4548">Princesshay</a> Shopping Centre up for sale.



The 400,000 sq ft asset comprises retail units, food and beverage and leisure space, and offices.



Savills has been appointed to handle the sale, as is reported to be seeking around £40m for the 50% stake.



The remainder of the asset is owned by The Crown Estate.



Key tenants at Princesshay include Next, Zara, and Reiss, with F&amp;B operators at the scheme including Nando's, Wagamama, and Yo! Sushi.



Included in the estate are the Princesshay and Summerland Gate car parks, providing over 500 car parking spaces.



Nuveen purchased its 50% stake in 2014 from Landsec, as part of a deal which saw Landsec take control of Buchanan Galleries in Glasgow.



Total gross income across the Princesshay assets is around £9.1m per annum, producing a net operating income of approximately £6.3m per annum.

Nuveen's 50% stake in Exeter's Princesshay up for sale

bendene-townhouse

Bendene-Townhouse

Bendene Town House hotel in <a href="https://completelyretail.co.uk/shops-to-rent/exeter">Exeter</a> City Centre has been sold by £1.1m to Hi West.



Savills completed the sale on behalf of 01 Property Investment, so that the firm can focus on its Housel Bay hotel at The Lizard, Cornwall.



The property is Grade II Listed with 21 bedrooms and a rear walled garden terrace. The hotel also features three new garden suites following recent conversions.



Bendene Town House is located in close proximity to Exeter St David's train station, which benefits from a direct line to <a href="https://completelyretail.co.uk/shops-to-rent/london">London</a> Paddington.



Harriet Fuller, associate director in the hotel capital markets team at Savills, said: "This is a fantastic property with broad guest appeal in the heart of Exeter and we are delighted to complete the sale to Hi West who we are sure will continue to operate the business with great success."

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