UK-based Protego Real Estate Investors has completed the purchase of The Buttermarket Shopping Centre in the English city of Ipswich on beha...

UK-based Protego Real Estate Investors has completed the purchase of The Buttermarket Shopping Centre in the English city of Ipswich on behalf of UBS Wealth Management UK Property Fund. The 234,293 square feet shopping centre was acquired from Prime Commercial Properties for £50.5 million, representing a 5.0 per cent initial yield and 5.35 per cent equivalent yield. “Having acquired £375 million of property for UBS Wealth Management in 18 months Protego are looking to acquire a further £250 million worth of property, principally in the industrial and office sectors, for the remainder of 2006,” said Hugo Llewelyn, head of investment at Protego.