A company co-founded by Rob Tincknell, former chief executive of the Battersea Power Station Development Company, is preparing to buy the Nicholsons shopping centre in Maidenhead, Berkshire, out of receivership.
Areli Real Estate, which Tincknell has co-founded alongside former Deutsche Bank managing director Andrea Vanni, has agreed to pay circa £25m for the centre.
The scheme, currently under offer, marks the new company’s first real estate acquisition.
Areli is backed by France-headquartered asset manager Tikehau Capital, which has nearly €20bn (£17.6m) of assets under management.
In December, Areli and Tikehau struck a partnership deal on an urban regeneration strategy across the UK.
The Nicholsons Centre fell into receivership in October after it was unable to meet its debt obligations.
A joint venture led by Vixcroft had exchanged contracts to buy the centre from Irish Life for £37m in 2015, which was said to be financed by a £26m loan from Hermes Investment Management.
Receivers from BDO were appointed to the centre, and CBRE was instructed to sell it.
The 4.46-acre town centre site was primarily marketed as a redevelopment opportunity. Its anchor tenants are H&M, Topshop, WH Smith and Tesco Metro.
All parties declined to comment.
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