Pillar sells 50% stake in Gallions Reach Shopping Park (UK)

Pillar Property has sold its remaining 50% interest in the Gallions Reach shopping Park for £78.7 million to a consortium of private investors, headed by Bank of Ireland Private Banking.

The 19,417 sq m (209,000 sq ft) Open A1 scheme, which is adjacent to a 10,126 sq m (109,000 sq ft) Tesco Extra Store, is anchored by Next, Topshop, Topman, Dorothy Perkins, Boots and Borders.

The Hercules Unit Trust (“HUT”), to which Pillar is property adviser, owns the remaining 50% share in the scheme and will retain the ongoing asset management of the shopping park.

Source: Pillar

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