UKCPT Buys UK Leisure Scheme
UK Commercial Property Trust (UKCPT) has acquired a 15,800-square-metre leisure-focused retail property in a suburb of London. The Rotunda Leisure Scheme in Kingston upon Thames was sold by Curo Property Funds for £50.7 million (€56.9 million). The property includes a 14-screen Odeon cinema; other tenants are Tenpin Bowling, David Lloyd Fitness, Pizza Express and Prezzo. The acquisition was funded in part by drawing down the remaining £37.9 million (€42.5 million) available through UKCPT’s existing debt facility with Lloyds Banking Group.
In other news, UKCPT has entered into a seven-year loan facility with Barclays Bank Pl