Mike Ashley’s Sports Direct has acquired Brookfield shopping park in Cheshunt, Hertfordshire, as revealed by EG last month.
The firm has bought the 93,000 sq ft park for £25.4m from JP Morgan Asset Management, marking a circa 44% reduction on the asking price of around £45m.
Michael Murray, head of elevation at Sports Direct International, said: “We are already working hard on plans to breathe new life into Brookfield Shopping Park. We believe in bricks-and-mortar retail and plan to transform this retail park into a modern, aspirational shopping destination for the local area.”
JP Morgan bought the retail park from Standard Life in 2015 for £92.1m, on behalf of its European Fund. RBS financed the acquisition with a £62.2m loan, also in 2015.
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