Tri7 has acquired The Portswood Shopping Centre in Southampton for circa £10m from a private investor.
The 28,315 sq ft centre is located on a 2-acre site in the Portswood area, north of Southampton city centre. The income-producing scheme is let to 10 tenants, including Iceland and Pizza Hut.
Samuel Castle, partner at Tri7, said: “The Portswood Shopping Centre offers the exact type of opportunity on which we thrive: an income-producing scheme that benefits from long-term development potential.
“As we continue to enact our city centre regeneration project acquisition strategy, we have our eyes on a number of sites across the UK and are confident that, for an opportunistic investor and an asset manager with an innate understanding of how to unlock value, there are a host of opportunities to be pursued while much of the rest of the industry adjusts to wider economic conditions.”
