Wereldhave Buys UK Shopping Centre
Wereldhave has agreed to buy a 49,200-square-metre shopping centre in the United Kingdom from Grosvenor Fund Management for £85 million (€102 million). The Dolphin Shopping Centre is located in Poole, a town on the south coast of England that is a popular tourist destination.
The shopping centre was first built in 1969, and was refurbished most recently in 2004. It contains more than 100 shops and restaurants as well as local council and community services; tenants include Marks & Spencer, Primark, British Home Stores and New Look.
“This investment fits well with our strategy of focusing our UK operations on mid-sized shopping centre acquisitions in strong locations, which are dominant in their catchments,” says Hans Pars, CEO of Wereldhave.
Grosvenor put the asset up for sale in September 2010, assisted by