U+I sells Lordship Lane Mecca Bingo site
U+I and Proprium have sold a 2.16-acre site on Lordship Lane in Wood Green, N22, to Tri7 and Alchemy.
The site, currently let to Mecca Bingo until December 2026, was sold for £21.5m.
It is the second acquisition for Tri7 in the past six months, after teaming up with funds managed by European private equity firm Alchemy Special Opportunities.
U+I and Proprium have sold a 2.16-acre site on Lordship Lane in Wood Green, N22, to Tri7 and Alchemy.
The site, currently let to Mecca Bingo until December 2026, was sold for £21.5m.
It is the second acquisition for Tri7 in the past six months, after teaming up with funds managed by European private equity firm Alchemy Special Opportunities.
The partnership provides Tri7 up to £100m of finance, to support £250m of investment into post-Covid development opportunities.
Tri7 will target unconditional freehold acquisitions buying shopping centres, leisure and retail parks and offices, with short to medium-term income that can be repositioned as residential, student or build-to-rent schemes.
The asset manager is working up plans for a residential-led scheme in Wood Green, of several hundred flats. The town centre site has been identified for mixed use redevelopment by Haringey Council, and is within 100m of the Crossrail 2 station.
Last July, the partnership bought The Core shopping centre in Leeds from Columbia Threadneedle, and has since secured new tenants.
Alex Bowman, acquisitions director at Tri7, said: “We are actively looking for strategic freehold sites where Tri7 can add significant value through redevelopment using our expertise in sectors such as retail, residential, office and student accommodation.”
CBRE advised U+I and Proprium.
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Image © Tri7
