European investment manager AEW Europe has been confirmed as the buyer of Festival Place shopping centre in Basingstoke, Hampshire.
Estates Gazette reported in September that AEW was the frontrunner to buy the 1m sq ft mall from TH Real Estate. AEW has made the purchase with the Teacher Retirement System of Texas for a price understood to be around £290m.
Festival Place has 175 shops with an occupancy rate of 92%, and 2,770 parking spaces.
CBRE marketed the property for TH Real Estate, and Lunson-Mitchenall with Mayer Brown acted for AEW Europe.
