Queensberry Real Estate has bought the 250,000 sq ft Kingsway Shopping Centre, Newport, south Wales in a joint venture with Bywater Properties.
The centre has been acquired from the UBS Triton Fund.
Kingsway, which is anchored by Wilkinsons, B&M and Peacocks, is adjacent to the 390,000 sq ft Friars Walk centre which Queensberry is developing and is due to open in autumn 2015. Friars Walk is anchored by Debenhams and Next.
“This is the first of a number of similar acquisitions we hope to be involved with over the next 12 months,” said Queensberry chief executive Paul Sargent.
Strutt and Parker acted for UBS Triton Fund while Queensberry and Bywater were represented
by Stuart Cunliffe.
