Tradehold and Texton Property Fund partner to acquire Broad Street Mall in England

Posted On Thursday, 21 May 2015 16:45 Published by
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Tradehold subsidiary Moorgarth Holdings (Luxembourg) S.à.r.l, has entered into a joint venture with Texton Property Fund to each acquire 50% of Broad Street Mall in Reading, England for approximately £30,564,000.

The investment will be housed in a special purpose vehicle, Inception (Reading) S.à.r.l.

Broad Street Mall is a 35,860.27m2 well-located retail shopping centre consisting of 75 retail units and 6 kiosks.

The Broad Street Mall asset will be the third and largest shopping centre acquisition for the Group and underpins the Group’s strategy to invest in the South East of England.

Tradehold says: "Through the joint venture we have secured a partner with a common asset management objective but also it gives Tradehold the ability to grow the UK portfolio using not only its own financial resources but also combining resources with a financially strong, credible and well respected partner."

According to Texton Property Fund the conclusion of the Acquisition ensures a further sectoral and geographic diversification of its portfolio beyond South African borders into the UK where Texton’s asset management company, Texton Property Investments Proprietary Limited, has knowledge and experience, and where property acquisition opportunities and related financing in domestic UK currency is attractive.

Last modified on Friday, 22 May 2015 09:16

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