Benson Elliot has completed the acquisition of the Quedam Centre mall in the English town of Yeovil as part of its regional investment programme.
Benson Elliot has completed the acquisition of the Quedam Centre mall in the English town of Yeovil as part of its regional investment programme.
The UK-based private equity real estate fund manager purchased the 16,260 m2 shopping centre from UBS’s Triton Fund, owner since 2005.
The financial details were not disclosed.
The Quedam Centre is located in the heart of Yeovil and comprises 45 units. It is home to retailers such as TopShop, Monsoon, River Island, USC, Boots and Starbucks. The centre represents the town's only managed retail destination and provides 25% of Yeovil’s total retail space. An adjoining development property, Vincent’s Yard, provides 16,000 m2 of space.
Benson Elliot said it could also benefit from prior planning consent for a potential 15,790 m2 extension.
The centre is currently 16% vacant and Benson Elliot’s retail team plans to undertake a proactive asset management programme.
Savills acted for Benson Elliot in the acquisition, with GCW and Macarthur Wilson being retained to lead a new letting campaign.
