Real estate firm bags 'high-performing' retail park deal

A real estate firm has expanded its portfolio with a shopping park deal.

Ashtrom Properties UK has bought Retail World, in Team Valley, Gateshead.

Bosses say the near 400,000sq ft site adds a “high-performing regional asset” to the London-headquartered operator’s stable.

Home to more than 30 brands, Retail World includes Currys, Decathlon, ScS and a Metro Bank branch.

The deal was supported by national law firm Freeths.

Members of the legal adviser’s real estate team, including director Ayesha Qayum, partners Craig Jones and Daniel Abrahams, and senior associate Sophie Moonshine, worked alongside partner Robert Chidley, director Matthew Cooper and senior associate Angelina Mikelova Szentpali from the firm’s corporate team.

Further staff from its planning, construction, tax and commercial departments also supported the deal.

Guy Lewinsohn, Ashtrom Properties UK chief executive, said: “We are delighted to have completed the acquisition of Retail World.

“This investment aligns with our strategy to expand our UK footprint and invest in high-performing regional assets.”

Ayesha added: “It has been a privilege to advise Ashtrom Properties UK on this landmark acquisition.

“Acting on such a significant transaction has been incredibly rewarding.”

Freeths’ office suite includes bases in Birmingham, Glasgow, Leeds, London and Manchester.

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