A shopping centre forced into receivership last year in one of the first retail property collapses caused by Britain’s high street malaise is close to being bought.
Areli Real Estate, co-founded by Rob Tincknell, the former chief executive of Battersea Power Station Development Company, is in talks to buy the Nicholsons shopping centre in Maidenhead for about £25m — a 32% discount to the last time that the site changed hands four years ago.
Nicholsons was bought by Vixcroft, a private equity-backed property specialist, and Cheyne Capital, a hedge fund, in 2015 for £37m. It entered receivership last October after it became unable to meet its financial obligations.
