Halton Lea shopping centre sold for £29m

The 346,629 sq ft scheme in Runcorn has been bought out of receivership by F&C Reit Asset Management for £29.1m.

Julian Clarke and Stewart Martin from Savills were appointed Law of Property Act receivers in September 2009 for the Halton Lea shopping centre, which was previously owned by Fordgate subsidiary Arkminster.

The shopping centre has an estimated rental value of £4.5m a year.

Chartered Surveyors Franc Warwick acted for F&C in the deal, which reflected a yield of 8.25%.

Fordgate is controlled by the Gertner Family Trust.

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