Friday, January 20, 2024
Fosse Park to be sold for £360m
FOSSE PARK, one of Britain's biggest out-of-town shopping parks, is set to change hands for about £360 million in the biggest sale of a single retail investment property for seven years.
The sale will be the biggest since British Land bought Sheffield's Meadowhall centre for more than £1 billion in 1999.
The 416,536 sq ft shopping park, three miles south of Leicester, is being sold by REIT Asset Management, the private property company, and Apollo Real Estate to a group of private Irish investors.
REIT Asset Management bought the centre only last year for about £300 million but retail property values have soared, enticing the company to cash in after receiving a string of speculative offers for the centre before Christmas.
The sale will be the biggest since British Land bought Sheffield's Meadowhall centre for more than £1 billion in 1999.
The 416,536 sq ft shopping park, three miles south of Leicester, is being sold by REIT Asset Management, the private property company, and Apollo Real Estate to a group of private Irish investors.
REIT Asset Management bought the centre only last year for about £300 million but retail property values have soared, enticing the company to cash in after receiving a string of speculative offers for the centre before Christmas.
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