Delancey acquires Blade portfolio
Published: 20 December, 2010
Delancey has bought the Blade portfolio from Propinvest Group for an undisclosed sum, partnering with existing lender Royal Bank of Scotland on the acquisition. The portfolio comprises 12 assets spread across the retail, leisure, office and warehouse sectors.
Delancey will strategically asset manage the entire portfolio and is expected to appoint DTZ to provide management services on the English properties with Cogent and Reith Lambert appointed in Scotland. East Kilbride Shopping Centre is the largest of the assets with 250 retail units – anchored by Debenhams, Marks & Spencer, Sainsbury’s and Primark – an ice rink, cinema, library and two food areas together with 3,000 car parking spaces.
Other assets include The Mander Centre in Wolverhampton, Airedale Shopping Centre, Keighley, Brooklands Retail Park and Bolton Gate Retail Park.
Tim Haden-Scott of Delancey, said: “We are delighted to have extended our working relationship with RBS on unlocking this portfolio. This complex transaction represents an opportunity for Delancey to create substantial added value through our extensive asset management expertise.”
