Wed, 08 Dec 2010 | BUSINESS SALE
Following the administration of its owner, an Antrim-base shopping centre has been sold.
Castle Mall, located in Market Square, has been acquired by the Edinburgh House business group following the administration of owners The Active Retail Fund.
The shopping centre's former owner - which was jointly managed by Hunter Property Fund Management and Centenary Investments, purchased the premises for £22.4 million in 2005.
Administrators were called in earlier this year and the centre has now been sold to the new owner for an undisclosed sum, although the asking price was thought to be around £5 million.
Commenting on the acquisition, managing director of the Edinburgh House business group, Tony Quayle, said that they were restarting their acquisitions programme due to a 'return in property values to more realistic levels.'
This latest deal marks the firm's first shopping centre purchase in six years. The 10,000 sq ft centre is home to a variety of well-known high street brands including New Look and Dorothy Perkins, but has a current vacancy rate of 30 per cent.
Quayle said, “We are keen to acquire assets where we see the potential to add value over the long term.”
The company provides internal fit-out services, including suspended ceilings, partitions, and raised-access floors, serving a wide range of clients with a strong recurring core client base, with a focus on careful risk assessment.
This dentistry is located in an affluent and prime location with a strong level of footfall, this practice currently offers the full range of private treatments including Implants, however has not pushed Invisalign or Hygiene work, leaving ample oppo...
LEASEHOLD
The company is a prominent supplier of high-quality, nutrient-rich feed for cows, calves, and sheep, with full technical support, dairy costings, yield predictions, and silage analysis. To complement its core product, the business also supplies molas...
06
|
Sep
|
Surrey Victorian country manor hotel on the market for £8m | COMMERCIAL PROPERTY
Stanhill Court Hotel, a Victorian Country Manor House hotel ...
06
|
Sep
|
Livingstone-based civil engineering firm falls into administration | ADMINISTRATION
Glenevin Limited, a Livingstone-based civil engineering firm...
06
|
Sep
|
Worcestershire accountancy acquires Cannock-based counterpart | BUSINESS SALE
A full-service accountancy and advisory firm based in Worces...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.