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U+I offloads Berkshire shopping centre to Sheet Anchor Evolve
Property regeneration developer U and I Group has disposed of the Kingsland shopping centre in Thatcham for £16.1m after adding "significant value" to the property during its ownership.
U+I sold its remaining holdings in the centre to Sheet Anchor Evolve on 31 January, having offloaded the Waitrose food store to Knight Frank Investment Management on 22 December.
The combined sale price came in above book value, reflecting a blended yield of 5.86% and took the total collected from U+I's disposals in its portfolio to £38.9m for the trading year.
Chief executive Matthew Weiner said: "The sale of the Kingsland Shopping Centre marks further progress on our investment disposals strategy. We are pleased to have secured this sale above book value and are well placed to acquire new assets that align with our focus on regeneration."
At 1000 GMT, the shares were down 1.43% to 200.10p.