NewRiver completes Widnes acquisition
Published: 18 May, 2010
NewRiver Retail Investments, the co-investment joint venture between NewRiver Capital and Morgan Stanley Real Estate Investing, has completed the acquisition of Albert Square Shopping Centre in Widnes.
The centre is the ninth and final asset in the UBS Triton UK retail property portfolio. Albert Square is an 84,500-sq ft shopping centre anchored by Iceland, Argos and WH Smith.
The purchase price for all nine assets, agreed on 1 March 2010, was £49m reflecting an overall net initial yield of 9 per cent.
