Commercial Property News

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Thursday, August 10, 2023

Frogmore sells North Point Shopping Centre for over 53m

Forsters, the property law firm, has acted for Frogmore in the sale of the North Point Shopping Centre in Hull for over 53m, in support of the developer's plan to divest much of its current property portfolio.

Frogmore instructed Forsters for the first time on the purchase of the centre in April 2005, and its sale is part of Frogmore's strategy to divest the majority of its 600m property portfolio, while building up its new 1bn Frogmore Real Estate Partners fund.

The North Point Shopping Centre in the Bransholme district in northern Hull was sold to Mark Booth's Wildmoor Properties. It comprises 152,000 sq ft of enclosed space and includes surface car parking, 59 retail units, four retail warehouse units, and a market hall. The Centre is anchored by Kwik Save, Wilkinsons, Netto, Peacocks, Boots, Boyes and Poundstretcher.

The sale was structured as a sale of the company owning the Centre and Craig Eadie led the Forsters team on the corporate side assisted by Angus Dodwell, with senior partner Sophie Hamilton, assisted by Ronan Ledwidge and Chris Riddell, on the property side. Nigel Stone was the corporate partner and Helen Streeton the property partner at Boodle Hatfield who acted for the buyer.