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4 August 2015, 08:24
Legal & General Property (LGP) have announced they have bought The Grafton Centre in Cambridge for £99m.
The company bought it from M&G Real Estate.
The Grafton Centre comprises nearly 500,000 sq ft of retail and leisure space arranged over 84 units, while also providing 1,150 car parking spaces. It is anchored by Debenhams and Bhs, and other major retailers include H&M, Next, New Look, Topshop and Boots. The first floor comprises an eight-screen Vue cinema as well as a food court, with tenants including Bella Italia, Burger King and Café Lavazza.
The company say, "With one of the strongest and fastest growing economies in the UK, Cambridge is considered an attractive investment target with its core strengths being its large, affluent and rapidly expanding catchment based on the University, significant R&D industry and tourism."
They haven't made it clear yet whether they are going to make any changes.