European property fund manager Doughty Hanson & Co Real Estate announced on Wednesday that it has completed the acquisition of the Old George mall in Salisbury, England, from the Salisbury Partnership, a joint venture between clients of Prupim and Rockspring. The transaction amount comes to 拢60 mln (EUR 66 mln).
European property fund manager Doughty Hanson & Co Real Estate announced on Wednesday that it has completed the acquisition of the Old George mall in Salisbury, England, from the Salisbury Partnership, a joint venture between clients of Prupim and Rockspring. The transaction amount comes to 拢60 mln (EUR 66 mln).
The 137,000 sq ft (13,000 m2) shopping centre is situated in a prime location in the centre of Salisbury, and has a population catchment in excess of two millions. Old George Mall comprises 57 retail units occupied by major national retailers including Bhs, WH Smith, Mothercare and New Look, as well as a 565-space multi-storey car park. Marks & Spencer is an adjoining anchor.
The acquisition of Old George Mall is the eleventh investment for Doughty Hanson's EUR 590 mln fund, Doughty Hanson & Co European Real Estate II. Other investments in the UK include Blythe Valley Park, the premier business park in the Midlands, Kings Hill Business Park in Kent, and Howick Place, a 220,000 sq ft mixed-use development in Victoria, London.
Over the last eight years, Doughty Hanson has invested in 12 shopping centres throughout Europe comprising 3 million sq ft.
