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New owner for Epsom's Odeon cinema
By Pete Hayman
LaSalle Investment Management has acquired a 40,534sq ft (3,766sq m) property in Epsom, Surrey, which is currently occupied by an eight-screen cinema operated by Odeon.
The £9.15m deal was made on behalf of the global real estate investment manager's pension fund client, the Northern Ireland Local Government Officer's Superannuation Committee.
LaSalle was advised by Jones Lang LaSalle in completing the acquisition from seller CBRE Global Investors, advised by Savills. The deal represents a net initial yield of 6.94 per cent.
"The asset trades well and offers the fund a secure income stream at an attractive yield," said LaSalle fund manager Christopher Fry.
LaSalle Investment Management has acquired a 40,534sq ft (3,766sq m) property in
Epsom, Surrey, which is currently occupied by an eight-screen cinema operated by
Odeon.
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