Former Chesterfield CEO Robert Maxted has led the £41m purchase of two of Bourne End Properties’ shopping centres, in Torquay and Hyde, Greater Manchester.
Torquay’s Fleet Walk centre and Hyde’s Clarendon centre have been snapped up by a consortium of private investors, led by Maxted.
The two-level, 140,000 sq ft (13,000 sq m) Fleet Walk centre consists of 60 shops.
The 135,000 sq ft (12,500 sq m) Clarendon centre comprises 51 shops, 26 kiosks and a supermarket, on one level.
Bourne End was taken over by Greenwich Group International (GGI) – comprising US-based asset manager Fog Cutter Capital Group, asset manager Catalyst Capital and Merill Lynch – in December 2000.
GGI took Bourne End private in January 2001, since when nine Bourne End properties – 43% of the portfolio – have been sold.
Bourne End still owns six shopping centres, ranging from 96,000 sq ft (8,900 sq m) to 330,000 sq ft (30,650 sq m), across England and Scotland.
Maxted left Chesterfield in 1999, establishing Ardwood Property Holdings, of which he remains a director, the same year.
EGi News 27/06/02
