INDUSTRY NEWS

Delancey acquires Blade portfolio.

Delancey have announced that it has acquired the Blade portfolio from Propinvest Group, for an undisclosed sum partnering with existing lender Royal Bank of Scotland on the acquisition.
The portfolio comprises 12 assets spread across the leisure, retail, and office sectors.

The largest of the assets is the East Kilbride Shopping Centre, which comprises 250 retail units – anchored by Debenhams, Marks & Spencer, Sainsbury’s and Primark – an ice rink, cinema, library and two food areas together with 3,000 car parking spaces

Other assets include The Mander Centre, a scheme of approximately 485,000 sq ft of retail space with 57,000 sq ft of offices trading over two levels and located in the heart of the city. It comprises around 100 retail units, 550 car parking spaces and main anchor tenants include TJ Hughes, Boots, Tesco, New Look and Bhs.

As well as this – Charter Place; well-located freehold office building, fully let to three tenants. Tim Haden-Scott of Delancey, commented:

“We are delighted to have extended our working relationship with RBS on unlocking this portfolio. This complex transaction represents an opportunity for Delancey to create substantial added value through our extensive asset management expertise.”

London commercial property news brought to you direct from DeVono Cresa, specialists in London office space.

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