LIM buys Golden Square, Warrington
Published: 30 June, 2014
LaSalle Investment Management has bought Golden Square shopping centre, Warrington, for £141m, representing a NIY of 6.75 per cent
Golden Square is modern high quality shopping centre covering 712,500 sq ft in 133 units, and includes the external pedestrianised Old Market Place. The centre has been sold by the Warrington Retail Limited Partnership, a 50:50 joint venture between Lend Lease and Legal & General.
Anchored by predominantly fashion retailers including a 115,000-sq ft Debenhams, a 59,000-sq ft Primark, a 64,500-sq ft Bhs and a 25,000-sq ft Boots, supported by an array of strong fashion retailers including Next, River Island, H&M, TK Maxx, Top Shop and New Look, the centre houses Warrington’s principal retail offer and has an average footfall of over 12m pa. Golden Square, as well as being the core retail offer, contains the town’s main car park (1,700 spaces) and bus station.
Julian Agnew, LaSalle Investment Management said: "The acquisition of Golden Square, Warrington, highlights our Client’s strategy to invest in dominant, high quality assets with a strong occupational line up and good footfall.”
Jackson Criss and Lunson Mitchenall advised LIM while JLL advised Warrington Retail Limited Partnership.