LaSalle Investment Management Acquires Golden Square Shopping Centre, Warrington
30 June 2014 - LaSalle Investment Management has announced the acquisition of Golden Square Shopping Centre, Warrington, for £141m, representing a NIY of 6.75% from Warrington Retail Limited Partnership, a 50:50 joint venture between Lend Lease and Legal & General.
Golden Square is modern high quality shopping centre covering 712,500 square feet totaling 133 units, and includes the external pedestrianised Old Market Place, which provides the main retail and leisure offering within the town centre. Anchored by predominantly fashion retailers including a 115,000 square foot Debenhams, a 59,000 square foot Primark, a 64,500 square foot Bhs and a 25,000 square foot Boots, supported by an array of strong fashion retailers including Next, River Island, H&M, TK Maxx, Top Shop and New Look, the centre delivers Warrington’s principal retail offer and has an average footfall of over 12m per annum. Golden Square, as well as being the core retail offer, contains the town’s main car park (1,700 spaces) and bus station. Julian Agnew, LaSalle Investment Management said: "The acquisition of Golden Square, Warrington, highlights our Client’s strategy to invest in dominant, high quality assets with a strong occupational line up and good footfall.” Golden Square is situated in the heart of Warrington’s town centre, located 16 miles west of Manchester and 18 miles east of Liverpool. The town has extensive transport links including Warrington Central Station connecting Warrington to Manchester Piccadilly in approximately 20 minutes and Liverpool Lime Street in approximately 30 minutes, as well as direct access to the M6 to the west and the M62 to the north. Jackson Criss and Lunson Mitchenall advised