Ashtrom Properties acquires Gateshead’s Retail World
London-based private real estate company Ashtrom Properties UK (APUK) has acquired Retail World at Team Valley shopping park in Gateshead.
The scheme extends to 391,000 sq ft and is home to a mix of more than 30 brands. Tenants include Asda, B&M, Currys, Decathlon, M&S, McDonald’s, Sports Direct, Superdrug, TK Maxx, and Wren Kitchens.
AP UK is a privately-owned company that specialises in the acquisition and development of prime real estate, including notable commercial and office schemes such as Exchange Flags in Liverpool, No. 8 First Street in Manchester, Central Square in Leeds, and Colmore Gate in Birmingham.
Legal support was provided by Freeths.
Guy Lewinsohn, CEO of AP UK, said: “We are delighted to have completed the acquisition of Retail World at Team Valley. This investment aligns with our strategy to expand our UK footprint and invest in high-performing regional assets. We appreciate the dedication and expertise of the Freeths team together with all the advisers involved in bringing this transaction to a successful close.”
Sarah Jelly, director and head of legal at AP UK, added: “Navigating the intricacies of this corporate acquisition was a collective effort of which the AP UK team are very proud. The team at Freeths provided seamless legal support and the technical expertise necessary to bring this complex deal to a conclusion.”