Legal & General Buys UK Shopping Centre
Legal & General Property has acquired a UK shopping centre for approximately £92 million (€108 million) on behalf of its UK Property Income Fund. Fremlin Walk Shopping Centre, a 32,500-square-metre retail property in Maidstone, was sold by a joint venture between SCOOP AM LLC and Europa Fund III, a pan-European fund managed by Europa Capital.
Fremlin Walk is anchored by a 9,300-square-metre House of Fraser department store. Other retailers include H&M, Next, Zara and Boots. The property also has a 760-space car park.