Bayfield Announces The Sale Of Wharncliffe Shopping Centre
Friday, October 1, 2010
Mr. Harold Spring President and CEO of Bayfield Realty Advisors Inc. (Bayfield) today announced that it has sold Wharncliffe Shopping Centre, a 60,000 square foot grocery anchored strip shopping centre located in London Ontario to Rio Can Real Estate Investment Trust. The centre was 100% leased and national tenants of the centre included No Frills, CIBC and Tim Hortons. The centre provided an excellent safe and consistent return on investment during Bayfield’s period of ownership and the sale price obtained reflected an appropriate and satisfactory gain over Bayfield’s original investment. The property was sold on the basis of Bayfield’s belief that the funds realized from the sale could be utilized to acquire properties which would generate a greater return to Bayfield’s investors than that which could be realized in maintaining ownership of the centre.