UK - The Mall Property Fund has bought the Eastgate Shopping Centre in Gloucester for £40m.
The covered shopping centre opened in 1971 but underwent refurbishment in 1995 and currently houses retailers including H&M Hennes, M&S, Woolworths and JJB Sport.
The Mall – established by Morley Fund Management and Capital & Regional – has assets of over £1.3bn in shopping centres. It plans to grow assets to £2bn in up to 30 locations across the UK. Institutional investors include Isis Asset Management, Hermes Pensions Management and Prudential M&G.
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