Hermes Investment Management, the £24.1 billion manager focused on delivering superior, sustainable, risk adjusted returns to its clients – responsibly, has completed the sale of 21 St George’s Street in Canterbury, Kent to a private client of Mason Owen for around £4 million.
The 19,630 sq ft property is located at the heart of one of the UK’s most historic Cathedral cities and has been occupied by discount retailer Poundland since 2010.
Chris Taylor, Head of Private Markets at Hermes Investment Management, said: “The sale of 21 St George’s Street follows the recent re-gear of the long leasehold. We are now able to redeploy capital into new acquisitions where we believe additional value can be added.”
Simon Bland, Head of Investment at Mason Owen, said: “Our client is delighted with the acquisition of this prime and well-secured retail property situated in the historic Cathedral city of Canterbury.”
The freeholder for the property is Canterbury County Council. KLM Retail represented Hermes Investment Management, while Mason Owen represented Vabeld Real Estate Holdings.
