LaSalle Investment Management today announces that it has acquired the Airedale Center in Keighley, West Yorkshire for £22 million (approx. 25.2 million) at c.10% NIY.
The Airedale Shopping Center, which opened in 1968, is a multi-let shopping center totaling 184,000 ft² (approx. 17,100 m²) The center comprises 84 retail units, a 460 space multi-story car park and is located adjacent to the town center bus station.
The center's retail provision is characterized by national multiples including: Next, Boots, WH Smith, Argos, JD Sports, Poundland, Shoe Zone, Costa Coffee, 02, Burton and Thomas Cook.
Gavin Ingram, Associate Director, LaSalle Investment Management comments:
"The Airedale Center, Keighley, represents an opportunity to invest in a dominant shopping center that encompasses the main retail pitch in the center of the town. Competition is limited and the local catchment is very loyal. We are already in discussion with several retailers regarding new lettings within the scheme.
Source: Edelman
