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Truro's Lemon Quay sold for £40 million
2:36pm Friday 6th December 2013 in News
Truro’s Lemon Quay has been sold for £40 million.
It has been bought by London-based Schroder UK Property Fund and there is no indication that the new owners intend to make any changes.
Lemon Quay in an important retail centre for the city, containing big name stores such as Marks & Spencer and Debenhams.
It had previously been owned by one of Northern Ireland's largest property firms, Corbo, which has also sold off two retail parks in Lincolnshire to the same buyer.
James Lass, fund manager of Schroder UK Property Fund, said: “The assets fit in with our long-standing strategy of acquiring well located real estate, let off low base rents where occupier demand is strong. We see numerous asset management opportunities in both properties.”
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