NEWCASTLE UPON TYNE, UK-The Crown Estate has acquired The Gate, a leisure scheme in Newcastle, for GBP 60 million. The Royal Bank of Scotland, investor clients of Delancey, was the seller. Delancey has been managing the property since its acquisition in December 2010 from PropInvest.
The Gate, which measures 210,000 square feet, contains 18 units. An Empire cinema anchors the venue. Current occupiers in the building include J. D. Wetherspoons, Pizza Hut, Nandos and The Restaurant Group. For the full story, go to PropertyMall .
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