Dolphin shopping centre up for sale
Published: 06 October, 2010
Grosvenor Management Fund have instructed CB Richard Ellis to sell the 530,000 sq ft Dolphin shopping centre in Poole for around £80m.
Grosvenor have been investigating the opportunity to extend the centre by 490,000 sq ft but the decision to sell the centre came as it became clear that the proposed plans could not be completed before the management fund expires in 2014.
Tony Christie, retail fund manager at Grosvenor, said: “We believe there is potential to extend the shopping centre and reposition it within the regional hierarchy. We are disappointed not to be able to take this on ourselves but, we believe this is a great opportunity for a purchaser which can take a longer term position.”
Bruce Nutman executive director at CB Richard Ellis, said: “We are expecting strong interest from the market for this asset. It has inherent quality, a growing affluent catchment and exciting redevelopment angles.”
