Thu, 17 Dec 2015
The new owner of Newbury shopping centre Kennet Shopping has been officially named as HIG Capital.
Last week the Newbury Weekly News reported that London firm Bride Hall were the shopping centre’s new buyer, but it is now believed the investment firm is involved in the sale as asset managers only.
Multi-national American company HIG Capital confirmed today (Thursday) that it had completed the acquisition of the Kennet Shopping Centre and also a Bradford shopping centre – the Kirkgate Centre.
The deal is reported to be worth around £63m.
Founded in 1993 and based in Miami, USA, HIG Capital holds $19bn in equity capital and has offices around the world in cities including London, Hamburg, Madrid, Milan and Paris.
The sale of the Newbury retail centre is its 25th real estate investment in Europe since 2013.
Managing director at HIG Riccardo Dallolio said: “This follows our acquisition of the Grosvenor Centre in Chester in May of this year and further demonstrate our ability to secure attractive transactions in the UK retail sector which possess solid fundamentals but can benefit from the more active hands-on asset management which we can provide.”