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Schroder REIT pays £14.7m for Manchester mixed-use asset

Schroder Real Estate Investment Trust Limited announces the acquisition of St. Ann’s House in Manchester, for £14.7 million, reflecting a net initial yield of 7.8%, a reversionary yield of 9.1% and a low average capital value of £283 per sq ft. The mixed-use office and retail asset generates £1.22 million…