Tikehau Capital and Areli Real Estate have bought Nicholsons shopping centre in Maidenhead out of receivership.
The centre spans more than 190,000 sq ft on a 4.5-acre site, and is home to 68 stores, including H&M, Topshop, Tesco and Pandora.
It is the first UK acquisition from Tikehau Capital’s Real Estates Value-Added €300m fund, in collaboration with Areli Real Estate as operating partner.
Tikehau Capital head of real estate Frédéric Jariel said: “This deal confirms our strategy to focus on repositioning well located assets to unlock their full potential. This investment is a key milestone in the deployment of our value-added fund throughout Europe and is in line with Tikehau Capital’s strategy to strengthen the development of its activities in the UK.”
Areli partner Rob Tincknell said: “The Royal Borough of Windsor and Maidenhead has clearly demonstrated an impressive placemaking strategy to improve Maidenhead town centre and boost both vibrancy and vitality. Through the potential regenerating of the centre, we are really excited to help deliver those goals.”
The Nicholsons Centre fell into receivership in October after it was unable to meet its debt obligations.
In December, Areli and Tikehau struck a partnership deal on an urban regeneration strategy across the UK. The following month Areli agreed to pay circa £25m for the centre.
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