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LONDON-Halladale, the AIM-listed developer and trader has raised £9.3 million ($14 million) by selling four properties out of a portfolio of 15 that it bought from Henderson Global Investors for £32 million ($50 million) earlier this year.

When Henderson made the decision to wind up the Opportunity Fund and sell its assets to Halladale, itgave consent to the company to sub-sell the four properties: shops in Swindon and Staines, an office in Edinburgh and warehousing in Glasgow. The tenants include fashion retailer QS, Abbey National and Bank of Scotland.

The properties at Swindon and Staines have been sold to Westbury Property Fund for £4.4 million ($6.5 million), representing an initial yield of 7.2%. And the properties in Edinburgh and Glasgow have been sold to Royal Liver Assurance for £4.9 million ($7.5 million), representing an initial yield of 6.9%.

Halladale was advised by Strutt & Parker and Lambert Smith Hampton acted for Henderson Global Investors. Royal Liver Assurance was advised by CGP Surveyors and Westbury Property Fund’s manager Gatehouse Investment Management was advised by Morgan Williams.

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