Thatcham: U+I sells Kingsland shopping centre for £16.1m
1 February 2018
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U+I, the specialist regeneration developer and investor, has sold Kingsland shopping centre in Thatcham for £16.1 million in two deals.
It sold the Waitrose foodstore to Knight Frank Investment Management and the remaining retail to Sheet Anchor Evolve.
The latest sale takes disposals in its investment portfolio to £38.9m for the financial year to date.
During its ownership, U+I said its "asset management skills added significant value to Kingsland Shopping Centre. This included extending the lease on the anchor Waitrose food store by 15 years in 2015".
Matthew Weiner, chief executive of U and I Group, said: “The sale of the Kingsland Shopping Centre marks further progress on our investment disposals strategy. We are pleased to have secured this sale above book value and are well placed to acquire new assets that align with our focus on regeneration.”
