Inbound investment
Retail
Business in Sport
About us
Editorial Values
Frequently Asked Questions
Racing
BIC Northeast
Northumbria University in Newcastle
Combined authority of the Lord Mayor of South Yorkshire
Tri7, the UK-based real estate investment and value-added asset control company, has acquired Portswood shopping centre in Southampton for £10 million from an investor.
The Portswood Mall is a 28,315-square-foot shopping and dining complex on approximately two acres of land in the Portswood area, north of Southampton’s city center.
A 15-minute walk from St Denys Exercise Station and Southampton Common, the asset is also within walking distance of the University of Southampton’s Highfield campus. The allowance is a source of income generation as it is rented out in its entirety to 10 tenants, in addition to Iceland, Pizza Hut and the Broadway pub.
The Portswood Shopping Centre adds to Tri7’s existing portfolio of long-term retail-focused progression opportunities, which are the Core Shopping Centre in Leeds and Mecca Bingo in Haringey, London.
Samuel Castle, Tri7’s spouse, commented, “Portswood Mall offers precisely the kind of opportunity we love: an income-generating task with long-term progression potential.
“As we continue to execute on our strategy of securing urban centre regeneration projects, we have our eyes set on a number of locations across the UK and are confident that, for an opportunistic investor and asset manager with an innate ability to unlock value, there are a wealth of opportunities to seize as much of the rest of the industry adapts to wider economic conditions.
By Matthew Neville – Senior Correspondent, Bdaily
Sign up for our national morning email for free.