intu properties has exchanged contracts for the sale of Sprucefield Retail Park to NewRiver REIT for €46.7m (£40m), in line with the June 2019 valuation. The asset is located in Lisburn, Northern Ireland and comprises of 231,000ft² of retail space in five units, anchored by Sainsburys and B&Q.
Matthew Roberts, chief executive of intu, commented: “We announced our new strategy at the interim results in July. A key element of this is fixing the balance sheet which includes creating liquidity through disposals. We are pleased to conclude this transaction, which along with the part-disposal of intu Derby and other sundry asset sales in 2019 brings the year to date disposals total to 312.8m (£268m).”