Topland Group is delighted to announce the acquisition of the Saddlers Shopping Centre in Walsall from SWIP (Scottish Widows Investment Partnership).
The Saddlers Centre is an integral part of the prime retail offer in Walsall located of the prime section of Park Street and Bradford Street. It is a fully enclosed shopping center and is anchored by Marks & Spencer and Argos. It comprises 195,886 ft² (approx. 18,197 m²) of retails sales, ancillary and storage and also benefits from a 480 space customer car park. Other tenants in the center include Boots, Subway, Bodycare, Greggs and Vision Express and other local occupiers. The purchase price was not disclosed.
The center is currently let to 48 tenants. Mark Kingston, Co-Managing Director of Topland said: "The acquisition of the Saddlers Centre is an exciting acquisition for us and will add to our already substantial retail portfolio."
The purchase price was not disclosed.
"We liked the yield profile and the diverse tenant mix and the opportunity to add value through our active asset management and we are actively looking at other similar opportunities in this sector."
Sol Zakay, Chairman of Topland Group Holdings said: "This purchase following on from our recent acquisitions in Taunton and Solihull continues to demonstrate our desire to add further properties in both retail and office sectors to our portfolio and we are actively seeking further acquisition opportunities."
Steven Lewis & Partners acted for Topland and Jackson Criss and JLL acted for the seller.
Source: MJ2
