LSH: Investment sales leapt in first quarter

Investment activity across the North West reached £660m during the first quarter of 2010, compared with £303m during the last three months of 2009, according to Lambert Smith Hampton.

The region witnessed only a small increase in the number of individual transactions but the average property price surged from £10.8m to £22m.

Highlights included Aviva's purchase of the St Georges Shopping Centre in Preston for £87m, and Legal & General's purchase of a Tesco distribution centre in Widnes for £61m.

The largest deal in the region was Aerium's purchase of 3 Hardman Street, Spinningfields in Manchester city centre for £183.4m.

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