Bradford shopping centre to change hands for over £70m
The Broadway shopping centre in Bradford is set to change hands in a deal worth over £70m.
CoStar News has reported that real estate investment and development company Eurofund has agreed to acquire the scheme.
The shopping centre was brought to the investment market last year by Savills, acting on behalf of receivers, with an asking price of £74.23m, reflecting a net initial yield of 9.5%.
Spanning 572,876 sq ft, the Broadway is anchored by tenants including Primark, JD Sports, Next, Superdrug, and Boots. The asset generates an income of £10.13m per annum, with 85% of gross income secured to tenants who have over two years to lease expiry.
The scheme was owned by Ellandi until the asset and development management firm was acquired by NewRiver in July 2024.
This comes as Eurofund, alongside joint owners Henderson Park, prepares to sell Silverburn shopping centre in Glasgow to Landsec for a reported fee in excess of £200m.