Hortons offloads city centre units

A city centre retail parade has been sold in an off-market deal.

London-based investor Tri Capital has acquired the units in Dudley Street, Wolverhampton, from Birmingham-based property group Hortons.

The parade comprises eight retail and office units, totalling 69,519 sq ft, which are let to tenants such as Metro Bank, Starbucks and TSB.

Hortons owned the property for more than 60 years and the sale is part of its strategy to dispose of non-core assets and re-deploy capital into projects within its existing portfolio as well as potential acquisitions.

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