Retail centre sold in £53m deal

A YORKSHIRE shopping centre has been sold as part of a £53m deal, it was revealed yesterday.

Law firm Eversheds has advised specialist real estate investment trust, NewRiver Retail, on its acquisition of a portfolio of five shopping centres from the CPI Retail Active Management fund.

The portfolio includes Bramley Shopping Centre in Leeds.

The transaction was financed with a 34.58m debt facility provided by HSBC Bank and the proceeds of a convertible loan stock issue.

The total aggregate cost was around 53m. Eversheds' Leeds-based partner Stephen Felstead acted on the real estate aspects of the transaction, along with his London-based colleagues in the law firm's corporate and banking teams.