Sheffield's Moor sold for £26.5m
vrijdag, 26 februari 2010
Scottish Widows has bought Sheffield's Moor shopping centre for £26.5m.
The 24-acre site is currently being revamped to bring it up to 21st century standard.
The work includes an £18m project to build a new market hall to replace the Castle Markets and eight new shops.
The new owners bought the centre from R Reef, the property arm of Deutsche Bank.
Socttish Widows, part of Lloyds Bank, said they hoped to bring forward the development of the new markets and looked forward to working with Sheffield Council.
Gerry Ferguson, head of UK property fund management at Scottish Widows, said: "We are pleased to have secured this property.
"It offers the prospect of adding value through redeveloping on a phased basis and therefore fits very well with the fund strategy of acquiring properties with strong income growth potential."
Copyright © Press Association 2010