Property fund manager Henderson has completed one of the largest property deals of the year with the £365m purchase of three shopping centres.

Henderson bought the three assets, Cheshire Oaks, Swindon and Bridgend from a consortium of investors including Morley Fund Management. To finance the deal Henderson raised £180m of equity and debt from German bank Bayerische Landesbank.

The deal represented a rental yield of just over 7%, reflecting the rapid decrease in capital values in the property market.

Daily Telegraph