By Ian Dipple 02/05 Updated: 03/05 18:33
THE KINGFISHER Shopping Centre has been sold in a deal worth in the region of £130million.
Capital & Regional and Oaktree Capital Management unconditionally exchanged contracts to buy the centre from Scottish Widows Investment Partnership and the deal is expected to be formally completed in the next few days.
The group already runs shopping centres in Lincoln, Luton, Blackburn, Norwich and London as well as four of The Junction branded retail parks across the country and 22 hypermarkets and other properties in Germany.
Gavin Hendry, Retail Investment Partner at Strutt & Parker which advised Capital & Regional and Oaktree Capital Management, said: "Redditch is a strategic asset, which benefits from strong core attributes but offers very real potential to further enhance the retail and leisure offer through identifiable asset management initiatives."
For more on this story see this Friday's Redditch Standard.
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