X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-REIT Asset Management has paid Standard Life Investments over £100 million for the Blackburn shopping centre in Blackburn, Lancashire. The purchase was structured through Blackburn Centre LP, a Delaware-registered limited partnership established by REIT Asset Management.

Blackburn Shopping Centre was originally constructed in 1967, and is held on a long leasehold from Blackburn Borough Council for a term of 150 years from 1993. It provides approximately 535,000 sq ft of covered retail accommodation and has recently seen a substantial refurbishment.

Major tenants include: Debenhams; WH Smith; BHS; Woolworths; TJ Hughes; Boots the Chemist; Argos and Tesco Metro. It also has 124 separately let retail units and a night club, as well as a 1,100-space multi-storey car park.

Addleshaw Goddard advised the purchaser.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.