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Gosforth's Regent Centre included in portfolio sale

~~Gosforth’s Regent Centre included in portfolio sale

Kennedy Wilson Europe Real Estate Plc has completed its purchase of the Fordgate portfolio which includes the Regent Centre office complex, Gosforth. A London Stock Exchange listed company that invests primarily in real estate and real estate loans in Europe, KWERE has acquired the 320,000 sq ft Regent Centre office complex, in Gosforth, Newcastle upon Tyne, as part of its acquisition of the Fordgate Jupiter portfolio. The acquisition of The Regent Centre follows previous purchases by Kennedy Wilson across Newcastle and the wider North East including Vantage Point, Balliol Business Park and Pavilion Business Park, Leeds.

In February 2014, KWE successfully raised approximately £1 billion of equity in an initial public offering on the London Stock Exchange. The funds raised will allow KWE to take advantage of a strong deal pipeline across Europe, with an initial focus on the UK, Ireland and Spain. A Kennedy Wilson spokesperson commented: “The Regent Centre is a widely-known and highly regarded office location with outstanding connectivity. In the last two years it has attracted over 30 lettings which is a reflection of the high occupational demand in the local area.”

Tim Evans, proprietary partner, Knight Frank and joint agent with BNP Paribas Real Estate on Regent Centre, says: “Regent Centre has been one of the North East’s most important office locations for many years, attracting during that time some of the region’s best-known and most successful companies. One of the success factors of Regent Centre is its proximity to Newcastle International. The presence of Emirates, the award-winning Dubai-based carrier, has given a major boost to travel and trade in the region, establishing Newcastle on the long haul map of the world and further emphasising the exceptional locational qualities of Regent Centre.

“This investment is good news for the office market and is a clear indication that activity is returning to the office sector.” ENDS

This was posted in Bdaily's Members' News section by Knight Frank .