LaSalle Investment Management announces that it has completed the acquisition of Market Walk Shopping Centre in Newton Abbot, Devon on behalf of a retained pension fund client.
Newton Abbot is a busy market town in South Devon, located between Exeter and Plymouth, and Market Walk is the town's only shopping center. Market Walk is an open scheme and comprises 27 units, predominantly at ground floor level, with a total sales accommodation of 91,000 ft² (approx. 8,400 m²). The anchor tenants are Iceland, Wilkinson and New Look.
James Pelly at LaSalle Investment Management said: "We are delighted with this acquisition on behalf of our client. We have already started working on some initial ideas to improve the retail offer and the appearance of the Centre, and we are looking forward to working with existing retailers for the benefit of both shoppers and retailers in the town.
"Newton Abbot has a loyal customer base, which we are keen to maintain along with the overall vibrancy of the town center."
LaSalle was advised by Macarthur Wilson and Stockland was represented by Jackson Criss.
Source: Citigate Dewe Rogerson