Southend-on-Sea Borough Council has bought the Victoria Shopping Centre in seaside town Southend in Essex out of receivership for £10.09m, reflecting a net initial yield of 11.30%
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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.
Southend-on-Sea Council Takes Plunge With Victoria Shopping Centre Buy
High Street Mall Key Part of Council's Town Centre Regeneration Plans
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