Mall Fund nears sale to Carlyle/Bride Hall
4 April 2008 12:40
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Bride Hall and the Carlyle Group are close to buying a portfolio of shopping centres including the Mall in Chester from the eponymous retail fund.
Bride Hall, part-owned by Warner Estate, and private equity giant Carlyle will pay £300m on a 5.5% yield for the 232,000 sq ft Mall Chester as well as two centres in London and Surrey.
Capital & Regional's Mall Fund, with assets of £3bn, sold the centres to increase equity. Strutt & Parker is advising on both sides of the deal.
