NewRiver Retail is continuing its acquisition spree with the purchase of Sovereign shopping centre in Boscombe, Dorset, for £12m.
NewRiver is understood to have outbid a handful of other parties to buy the 150,000 scheme from the lease holder UBS Global Asset Management’s Triton Fund.
Tenants at the shopping centre include Lidl, Boots, Peacocks, Poundland and New Look.
NewRiver has also recently bought a four-strong portfolio of shopping centres from Zurich Assurance for £68m – an 8% yield. The centres are Merlin Walk in Carmarthen; the Piaza in Paisley, the Hildreds in Skegness and the Horsefair in Wisbech.
Capital Retail represented UBS; Jones Lang LaSalle advised NewRiver Retail.
annabel.dixon@estatesgazette.com
