UK private investor Topland has bought the Saddlers shopping centre in the English industrial town of Walsall from Scottish Widows Investment Partnership.
UK private investor Topland has bought the Saddlers shopping centre in the English industrial town of Walsall from Scottish Widows Investment Partnership.
The takeover sum was not disclosed.
The Saddlers Centre is a fully enclosed shopping centre anchored by Marks & Spencer and Argos. It comprises 195,886 sq ft (18,200 m2) of retail, ancillary and storage space and has a 480-space customer car park.
The centre is currently let to 48 tenants.
Mark Kingston, co-managing director of Topland, said the company 'liked the yield profile and the diverse tenant mix and the opportunity to add value through our active asset management and we are actively looking at other similar opportunities in this sector.'
The purchase follows on from the group's recent acquisitions in Taunton and Solihull in the UK. 'We are actively seeking further acquisition opportunities,' added Sol Zakay, chairman of Topland Group.
Steven Lewis & Partners acted for Topland and Jackson Criss and JLL acted for the seller.