Ellandi Retail Fund Completes Third Acquisition
Posted by Ellandi on 1st Dec 2014
The Idlewells Shopping Centre is an enclosed community shopping
centre which forms an integral part of the town’s retail offer and is anchored
by New Look, Argos & Blue Inc. The scheme also houses the town’s library
& indoor market.
The Ellandi Retail Fund was set up in October 2013 when it
secured equity commitments of £60m to build a portfolio of high yielding
locally orientated shopping centres.
The fund debuted with the purchase of the Market Gates Shopping
Centre, Great Yarmouth, and went on to purchase the Ladysmith Shopping Centre
in Ashton-Under-Lyne earlier this year.
Ellandi acquired the centre from vendors Helical Bar who have
held the centre within their portfolio since 2011.
Morgan Garfield, Managing Director at Ellandi said “This year
has been great so far, we’ve doubled in size as a company and the added resources
& expertise ensure that we are able to complete on tight timetables to
exceed vendor expectations.
“The Ellandi Retail Fund is actively pursuing additional acquisition
opportunities and we are also continuing to build our relationship with
established equity partners such as Tristan Capital Partners, Angelo Gordon
& Silverpoint Capital.”
Savills acted on behalf of the vendor & CBREI acted on
behalf of Ellandi.