Catalyst Capital is tipped to have won the bidding war to buy Coal Pension Properties’ shopping centre portfolio for just under £130m.
The private group, headed by Julian Newiss, is understood to have fought off bids from Warner and GE Capital, Moorfield, Reit Asset Management, Charterhouse, Maximus, Dawney Day, and Oliver Liggins private trust Vale Retail.
The portfolio comprises five shopping centres: the Galleries in Wigan, Milburngate in Durham, the Pavement in Chesterfield, County Square in Ashford and Swansgate in Wellingborough.
The deal is thought to represent an initial yield of 7%.
Property Week 19/10/01 page 2
