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New owners announced for Kings Walk Shopping Centre

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Written by: Andrew Merrell | Posted 11 July 2017 8:07

New owners announced for Kings Walk Shopping Centre
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After almost a year since a £25 million deal fell through Kings Walk Shopping Centre has been sold.

Details are yet to emerge of the terms and conditions of what we are told is a done deal, but it has been confirmed the Gloucester retail hotspot is now owned by Reef Estates.

Peter White is the manager of Kings Walk, which runs from Kings Square through to Eastgate Street and harbours such names as HMV, SuperDrug, Costa Coffee, River Island and Ann Summer.

“We are just waiting to hear from Reef Estates, but I can confirm the sale has been completed. We were with Aviva Life and Pensions,” said Mr White.

“It is a positive step. It will be great because it should mean some investment in Kings Walk and will hopefully mean new tenants as well.”

The shopping centre also includes the former BHS site, which also fronts Eastgate Street. It is hoped the new ownership will unlock the potential of what is one of the largest empty retail spaces in the city.

In June last year investment firm Vixcroft said it had bought the site from Aviva for around £20million and had pledged a further £5million investment in the site.

In August 2016 we then revealed how the “done deal” between now former owners Aviva and investment firm Vixcroft had been put on ice.

The sale of Kings Walk Shopping Centre did not go ahead “because of the UK's decision to leave the European Union in the referendum”.

At the time Daniel Carter, chief executive of Vixcroft, said there was still a 'strong chance' the deal would go through.

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