Multi-Million Pound Deal Sealed
Published 4 February 2020
Our Commercial Department are delighted to have sealed a multi-million pound retail property deal for a Beccles-based private property development and investment company – the second multi-million pound deal it has negotiated on behalf of the client in a matter of months.
Our Commercial Team secured the purchase of the Haverhill Retail Park on behalf of Barsham Securities Ltd. The newly-developed 2.4 acre retail park was brought to the market in October by London based firm JonesLangLaSalle. The Park comprises 27,167 sq ft of retail space and is fully let to Home Bargains, Pets at Home and Pure Gym.
The deal comes just months after Arnolds Keys negotiated two other deals for Barsham Securities Ltd, including the off market purchase of an office investment on the Norwich Business Park.
“This is a well let modern scheme to a mixture of financially strong national operators in a prominent position in a strong market town,” said Mark Mayhew, Associate at Arnolds Keys. “With all of the units let on long leases, it represented a good investment opportunity and we are pleased to have secured the purchase on behalf of Barsham Securities, against significant competition.”
Stuart Holmes, director at Barsham Securities, added, “We are delighted to have secured this high-profile, new retail property for our investment portfolio. The strong tenants, being the only retail park in Haverhill and situated in a prosperous and growing Suffolk town, made this is an investment opportunity we wanted to secure, and in line with our investment and portfolio strategy. We are very grateful to Mark and his team at Arnolds Keys for all their hard work in helping us secure the scheme.”
Barsham Securities were represented by Sally Challinor of Ashtons Legal. Following the purchase of the Haverhill Retail Park, the Asset Management department at Arnolds Keys has been retained by Barsham Securities to manage the retail park on their behalf.
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