UK firm Development Securities has bought the £16 mln (€20 mln) Borough Parade mall in Chippenham, western England, from a JV between Clearbell Capital and Tristan Capital.
UK firm Development Securities has bought the £16 mln (€20 mln) Borough Parade mall in Chippenham, western England, from a JV between Clearbell Capital and Tristan Capital.
The site, which has supermarket Waitrose and fashion retailer New Look as anchors, was part of the JV's Jeeves portfolio of 29 retail, office and industrial assets and follows other recent sales.
Jeremy Bullock, a director at Tristan, said: ‘The pick-up in UK retail values, which has spread to the secondary markets as the broader economic recovery has gathered momentum, along with the added value of significant asset management improvements, provided an opportune time to sell.’
JLL acted for the vendor and Fawcett Mead for Development Securities.