Redefine buys St Georges shopping centre, Harrow
Published: 03 May, 2011
AIM-listed Redefine International buys Harrow mall from Corovest for £68m
The South African investor has bought the St Georges Shopping Centre, Harrow for a purchase price (after transaction costs) of £68m. Debt of £43.125m has been secured from a major German banking group.
The 215,000-sq ft centre forms part of the retail core of Harrow and has links to both public transport and the M1 and M40 motorways. It is anchored by Boots, TK Maxx, Wilkinsons and Vue and comprises 23 shops, three restaurants, an eight-screen cinema, a health club, and a multi storey car park for 650 cars.
The transaction is in line with Redefine’s objective of increasing its presence in the UK property market and will complement the company's existing retail portfolio of five high quality shopping centres. By being located in the South East of the UK it brings a better geographical balance to the UK property portfolio.
