BlackRock motor out of North Shields

The BlackRock UK Property Fund has sold the Wickes located on Middle Engine Lane, North Shields for £5.15 million

The BlackRock UK Property Fund has sold the Wickes located on Middle Engine Lane, North Shields to LaSalle Investment Management for £5.15 million, a net initial yield of 6.75%. The property comprises 28,200 sq ft and is let for a further seven years at a passing rent of £368,400 per annum (£13.06 per sq ft). Edgerley Simpson Howe LLP advised The BlackRock UK Property Fund. (March 2011)