CBRE Global Investors, on behalf of its investors, has exchanged contracts to acquire Angel Shopping Centre in Islington, London, N1. The vendor was Warburg-HIH Invest Real Estate (Warburg-HIH Invest, formerly: Warburg - Henderson). The transaction was managed by TH Real Estate.
The Angel Shopping Centre (formerly known as N1 Shopping Centre) was opened in 2002. The scheme occupies a large freehold site extending to approximately 45,720 m², including 18,288 m² of leisure accommodation together with 100 car parking spaces.
The centre is 95% occupied and is arranged over ground, first and second floors. The 16 retail units are anchored by a 6096 m² H&M and a 13045 m² nine screen Vue Cinema. Other notable tenants include GAP, French Connection, Tiger, Oasis, Monsoon and Academy Music Group. There is also a strong leisure element with six restaurants and bars.
Located in the prosperous central London borough of Islington, 3.2 km from the City of London, the centre has excellent transport links situated opposite Angel tube station. It will benefit from the Crossrail project with Farringdon station only 1.6 km away.
Islington is the most densely populated area in the UK. It has a young, affluent demographic with a population set to increase by a further 14% over the next 15 years, well ahead of the national average. Car ownership is the second lowest in the UK and residents spend much of their disposable income within the borough.
Source: CBRE Global Investors