Sourced from Insider News Southwest - follow link to original article
Development Securities has acquired Chippenham’s Borough Parade for more than £16m.
The 82,000 sq ft shopping centre is anchored by Waitrose and New Look and is fully let to a range of national retailers including Argos, Cafe Nero and Waterstones.
Matthew Weiner, director of Development Securities, said: “The Chippenham shopping centre complement our existing portfolio of food store-anchored retail schemes and is well-placed to benefit from an improving retail market, being located within an affluent catchment area and offering a mix of strong retail brands.”
Development Securities acquired the property from joint-owners Clearbell Capital and Tristan Capital Partners for £16.3m.
It was part of an £18.6m purchase that included a 22-acre site in South East London occupied by a golf driving range.
“Both of these acquisitions have allowed us to recycle equity into investment assets that offer stable long-term income streams,” Weiner added.