CSC extends Nottingham holdings
Published: 28 November, 2011
Capital Shopping Centres buys remaining 25 per cent of Broadmarsh Centre, Nottingham
Capital Shopping Centres has bought the remaining 25 per cent interest in Broadmarsh in Nottingham from Possfund Custodian Trustee (represented by LaSalle Investment Management) for £18.3m.
This follows the agreement earlier this month to acquire Westfield’s 75 per cent interest in the shopping centre for £55m.
CSC will now own 100% of the Broadmarsh Retail Limited Partnership which owns the 487,000-sq ft shopping centre. Broadmarsh comprises circa 80 units anchored by BHS, Argos, Boots and Wilkinsons with annual footfall of 17 million.
CSC also owns 100 per cent of the Victoria Centre, Nottingham and has submitted a planning application for a 540,000-sq ft extension to the centre.
David Fischel, CSC's chief executive, said: "Common ownership of Victoria Centre and Broadmarsh greatly improves the prospect of transformational retail and leisure led development taking place within the city to the benefit of the local and wider Nottingham community.”
