F&C Property Asset Management has bought the Orchards Shopping Centre in Haywards Heath for £23.7m on behalf of Friends Provident Life Assurance Limited.
The 102,600 sq ft retail centre near Crawley in west Sussex is anchored by Marks & Spencer and comprises 35 shops.
Other tenants at the centre include Next, Dorothy Perkins, Superdrug, New Look, Monsoon and the Post Office.
Ian McBryde, director of property funds at F&C Property, said: “This centre provides us with excellent opportunities for active asset management.”
Haywards Heath is an affluent town and we plan to improve the centre’s profile to take advantage of this.”
F&C Property was advised by Jackson Criss. DTZ acted for the seller, CIT Group.
References: EGi News 30/11/04
