Guildhall Estates, the joint venture company controlled by Earlplace, has sold the completed neighbourhood centre in Cranbrook, Exeter. The private investor acquired the scheme following completion in September 2015 at a price reflecting a blended yield of 7.3%.
The development included a convenience store let to Southern Co-Op and 6 further retail units now occupied by a pharmacy, a charity shop, two fast food outlets, an estate agent and a cafe.
14 one and two bedroom apartments were constructed on the upper floors and retained by Persimmon Homes.
Guildhall have now successfully completed three neighbourhood centres and remain committed to undertake further such developments with two more sites now under contract and at advanced negotiations in regards to others.