LaSalle Investment Management ("LaSalle") today announced that it has completed the acquisition of Silverlink Shopping Park, on behalf of one of its pension fund clients.
Situated in a strategic position, approximately six miles east of Newcastle city centre, the retail park is highly accessible to a large catchment population and represents one of the strongest out-of-town locations in the UK including the conurbations of North Shields, South Shields, Tynemouth and Jarrow.
The 202,287 ft² (18,730 m²) retail park is a predominately open A1 scheme constructed in 1990 and anchored by Marks and Spencer. Additional tenants include Arcadia, Argos, Boots, Borders, Comet, Currys, Halfords, Harveys, Mothercare, New Look, Next, Outfit, Sports Soccer, ScS, River Island, and JD Sports.
The Park was bought from British Land (HUT) in an off market transaction for £91.19 million.
LaSalle was advised by Wilkinson Williams with regards to the transaction.