A popular Mansfield shopping centre is now under new ownership. Four Seasons Shopping Centre confirmed that its former owners, Real Estate Investments Nederland BV, had been acquired by the Irish family-owned business Martin Property Group.
The purchase brings with it a national portfolio which includes 1.2million square feet of retail space from Stichting Mars Pensioenfonds (SMP), a Dutch Pension Fund. The other assets include Clarendon Shopping Centre in Hyde, Exchange Shopping Centre in Rochdale, Ankerside Shopping Centre in Tamworth, Westside Plaza in Edinburgh, and Angel Place Shopping Centre Bridgwater.
A portfolio of student accommodation was also part of the transaction. Gary Martin, of Martin Property Group, said he was "delighted" by the acquisition.
He said: "We are delighted to complete this transaction and become the custodians of these important assets in locations right across the UK, particularly at time where shopping centres require hands-on asset management. We will be focused on stabilising, repositioning and, where possible, developing the assets further.
“We look forward to working with the councils in each of these locations as they will be an important part of the future success of these assets. Tenants across the portfolio include Odeon, Lidl, NHS, Sky, Iceland, Primark, EE and Home Bargains among others.”
SMP decided to sell the company following the outcome of a strategic asset liability review. Price Waterhouse Coopers (PwC) acted as lead advisor on the transaction.
PwC Deals Partner Mark Addley said: “We are pleased to have successfully delivered this transaction which demonstrates there is continued interest in supporting and investing in UK high street assets underpinned by a solid strategy, even though we are facing challenging economic headwinds.” Four Seasons Shopping Centre includes stores such as Boots and jewellers H. Samuel.
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