First opened in 1975 and refurbished in 1995/1996, The 532,000-sf Gracechurch Centre dominates Sutton Coldfield's retail provision providing over 50% of the town's retail offer. Most major high street retail brands are represented including Marks & Spencer, Argos, Boots, Next, Bhs and Beatties. The 2002 net income was £7.25 million ($12 million) which shows an equivalent yield of 7.32%.
Combined with the purchase of the Grosvenor Centre in Chester last month, this deal brings the number of community shopping centres in the Mall portfolio throughout the UK to 13, providing over 4 million sf of retail. The Mall Chief Executive Ken Ford said: "Sutton Coldfield has a prosperous core shopping population in excess of 100,000 and Gracechurch is the focal point of the town's retail offer."
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