Bouverie Place bought for rumoured £22 million
Posted by Folkestone Herald on 27th Jun 2013
Bouverie Place Shopping Centre has been bought for an undisclosed sum by a Pan-European real estate fund manager.
Tristan Capital Partners and Ellandi have taken over the Folkestone shopping site for a rumoured £22million after it was put up for sale by the joint receivers of Warner Estate Development (Folkestone) and Warner I
Morgan Garfield, partner at Ellandi, said: “Bouvnvestments.erie Place offers both an attractive yield and opportunities for asset management and initiatives to add further value.
“We hope that our close relationship with retailers has allowed us to identify a sustainable retail location with strong medium-term growth prospects.”
Tristan Capital managing director Peter Mather added: “The centre is the dominated retail location in the catchment area and our ability to transact swiftly was key to seize this opportunity which we expect will deliver attractive returns to our investors.”
Bouverie Place, which was built in 2007, covers 231,000 sq and is currently home to national chains such as Asda, Primark and Next.
Source: Folkestone Herald