Town centre shopping centre acquired

Town centre shopping centre acquired

A total of £12.69m has been provided for the acquisition of a shopping centre in Chesterfield.

HFF Real Estate has provided the financing for the deal for 216,790 sq ft Vicar Lane.

The HFF team worked on behalf of the borrower, ALTERIS, to place the five-year, fixed rate loan with AgFe. 

Vicar Lane was completed in 2000 as an open-air centre and is anchored by TJ Hughes and H&M.

The 95 per cent-leased centre is also home to River Island, Iceland, JD Sports, New Look, Superdrug, Deichmann, Waterstones, Holland & Barrett, Clydesdale Bank, O2 and Three Store.

The retail centre encompasses four city blocks and includes from a 400-space multi-story car park.

The HFF debt placement team working on behalf of ALTERIS included managing director Edward Daubeney.

He said: "This transaction proves there is demand for well-let retail opportunities with ongoing tenant demand and a good future."

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