St Modwen sells Edmonton Green shopping centre above book value

Edmonton Green Shopping Centre

St Modwen has exchanged on the sale of Edmonton Green shopping centre in north London to Crosstree Real Estate Partners for £72m – slightly ahead of the £70.2m book value.

The 495,000 sq ft centre in Enfield produced a net rental income of £4m in 2017 and is currently 96% let. GCW advised St Modwen on the sale.

St Modwen has also completed the sale of two smaller retail assets in Liverpool and Cannock in two separate deals for £9.9m in aggregate; 6% above the combined book value of the assets.

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