Middleton Shopping Centre sold for £14m

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.

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Astute purchase. As a nearby resident, keen to know if they will be adding a farmers market?

By Kevin Cramer