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Valad buys Festival Leisure Park

Hermes Real Estate has completed the sale of Festival Leisure Park in Stoke to the Valad European Diversified Fund for £14.5m, reflecting a net initial yield of 7%.
By James Buckley
August 21, 2014 | 1:52 P.M.

The 130,000 sq ft property comprises a two storey leisure box constructed in 1988, which is currently used as a ten screen cinema (Odeon), and a bowling alley (Tenpin). Adjacent to the A53, with 420 car parking spaces, the site is part of the largest retail and leisure district in the Stoke conurbation.

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