Doughty Hanson & Co Real Estate has bought Old George Mall in Salisbury from the Salisbury Partnership, a joint venture between clients of Prupim and Rockspring, for £60m.
The 137,000 sq ft shopping centre comprises 57 retail units occupied by retailers including BHS, WH Smith, Mothercare and New Look, as well as a 565-space multi-storey car park. Marks & Spencer is an adjoining anchor.
The purchase of Old George Mall is the eleventh investment for Doughty Hanson’s €590m (£538.9m) fund, Doughty Hanson & Co European Real Estate II.
Kevin Grundy, a principal with Doughty Hanson, said: ‘This is an attractive opportunity consistent with our strategy of focusing on assets with significant value creation potential and defensive characteristics.'
Over the last eight years, Doughty Hanson has invested in 12 shopping centres throughout Europe comprising 3m sq ft and a total acquisition value of €570m (£520.9m).