The investment team at Smith Price ended the year on a high with a twelfth sale on behalf of F&C REIT Asset Management, with another in legal hands, and a hat-trick of acquisitions. This capped a productive year for the department which completed a number of investment deals in 2009.

The Metro Centre in Brixton, London, was perhaps the highlight of all the sale transactions and was therefore a fitting end to the year. The parade (pictured) occupies prime pitch in the centre and is let to a variety of leading high street retailers including Sainsbury, WH Smith, Carphone Warehouse and Vodafone. It was eventually sold to a major fund, following strong interest and a round of best bids, close to £14 million at a net initial yield of 4.75% and therefore much in excess the guide price of £12 million.

The team also had some joy on the acquisition front having advised three different private clients in three separate transactions. This included two shops in Cirencester and Farnham, let to Caffe Nero and Vision Express for a further 7 years and 9 years respectively, and a large variety store in Luton let to Bhs Properties on a 99-year lease.