LaSalle Investment Management (LaSalle) announced on Tuesday that it has completed the acquisition of Silverlink Shopping Park, on behalf of one of its pension fund clients. The Park was bought from British Land in an off-market transaction for £91 mln (EUR 101 mln). Situated east of Newcastle city centre, the retail park is highly accessible to a large catchmentarea and represents one of the strongest out-of-town locations in the UK including the conurbations of North Shields, South Shields, Tynemouth and Jarrow.
LaSalle Investment Management (LaSalle) announced on Tuesday that it has completed the acquisition of Silverlink Shopping Park, on behalf of one of its pension fund clients. The Park was bought from British Land in an off-market transaction for £91 mln (EUR 101 mln). Situated east of Newcastle city centre, the retail park is highly accessible to a large catchmentarea and represents one of the strongest out-of-town locations in the UK including the conurbations of North Shields, South Shields, Tynemouth and Jarrow.
The 202,287 sq ft (19,000 m2) retail park was constructed in 1990 and is anchored by Marks and Spencer. Additional tenants include Arcadia, Argos, Boots, Borders, Comet, Currys, Halfords, Harveys, Mothercare, New Look, Next, Outfit, Sports Soccer, ScS, River Island and JD Sports. LaSalle was advised by Wilkinson Williams with regard to the transaction.
