Middleton Shopping Centre sold for £14m
4 March 2014 11:38
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The 300,000 sq ft Middleton Shopping Centre has been bought by international property investor and developer Westrock, for around £14m.
The shopping centre is Westrock's first purchase as part of a drive to build a regional property portfolio worth £300m over the next 18 months.
Westrock currently has schemes in the UK, US and Switzerland.
It purchased Middleton Shopping Centre from administrators Deloitte, at a yield of around 12%. The site will be asset managed by shopping centre specialist Ellandi.
GCW and London & Associated Properties advised the administrators, BCM and CBRE advised Westrock and Ellandi.
