Paul Norman

<html><head></head><body><div class="RichTextArticleBody"><div class="RichTextArticleBody-body"><p>Southend-on-Sea Borough Council has bought the Victoria Shopping Centre in seaside town Southend in Essex out of receivership for &#xA3;10.09m, reflecting a net initial yield of 11.30%<br>.<br>The council said the purchase of the 330,000-sq-ft centre demonstrates its long-term commitment to the town centre and presents opportunities to drive changes to the centre and help the regeneration of the high street. </p></div></div></body></html>

Sale

The Victoria Shopping Centre

High Street Mall Key Part of Council's Town Centre Regeneration Plans

Southend-on-Sea Council Takes Plunge With Victoria Shopping Centre Buy

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The <b>CoStar Power Broker Awards</b> are based on transaction data included in CoStar’s commercial real estate database, the largest and most comprehensive database of commercial real estate information. The methodology used for all company and individual categories can be found <c>here</c>. A complete list of winners by market can be found <a>here</a>.

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This article was originally published on <a>Homes.com</a>.

<b>CoStar's Impact Awards</b> highlight the commercial real estate transactions and projects that have transformed their markets over the past year. The winners are chosen by independent panels of industry professionals who work in the markets they judge. Learn more about the awards <a>here</a>.

CoStar has introduced a new market-based programme recognising the top sale and lease deals completed each quarter. All deals that closed during the previous quarter are evaluated by CoStar's research team, the largest professional research organisation in commercial real estate. The selected top deals and the real estate firms and individual agents involved in each transaction will be singled out for recognition each quarter. For the purpose of recognising the top property sales each quarter, CoStar uses estimated sale prices in cases where the actual sale price is not disclosed. The estimate uses sale prices of similar properties in CoStar's property sales database based on the type, age, general size and location as the subject property. All the winners can be found <a>here</a>.

CoStar has introduced a new market-based program recognizing the top sale and lease deals completed each quarter. All deals that closed during the previous quarter are evaluated by CoStar's research team, the largest professional research organization in commercial real estate. The selected top deals and the real estate firms and individual brokers involved in each transaction will be singled out for recognition each quarter. For the purpose of recognizing the top property sales each quarter, CoStar uses estimated sale prices in cases where the actual sale price is not disclosed. The estimate uses sale prices of similar properties in CoStar's property sales database based on the type, age, general size and location as the subject property. All the winners can be found <a>here</a>.

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Southend-on-Sea Council Takes Plunge With Victoria Shopping Centre Buy

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