Four shopping centres sold in £144m deal

Mon, 27 Nov 2017 | COMMERCIAL PROPERTY

A multi-million pound deal to acquire four shopping centres, with two located in Yorkshire, has been signed off, with the properties set to change hands in early December.

The Ediston Property Investment Company (EPIC) announced this week that it had entered into a conditional acquisition agreement with the Stadium Group to purchase a portfolio of four warehouse parks.

The properties include two Yorkshire shopping centres: the Kingston Retail Park in Hull and the Wombwell Retail park in Barnsley, valued at £25-30 million and £10-15 million respectively.

They represent EPIC’s first acquisitions in the North of England, specifically the Yorkshire & Humberside region.
The remaining pair being acquired as part of the deal are the Prestatyn Shopping Park in Wales, worth between £55 and £60 million, and the £45-50 million Widnes Shopping Park.

Adding these new properties to its portfolio means that EPIC has effectively doubled the value of its holdings to a total of £317.6 million. In order to fund the move, the property firm plans to raise £37 million by issuing new shares.

William Hill, EPIC’s chairman, said that the new share issuance would come alongside a rise in dividends for investors thanks to “consistent good progress” made by management to increase the firm’s profitability.

He added: "I am delighted with the progress of this property transaction and consider these proposals to be an important next step in the development of the company.

"I am also encouraged with the discussions we have had to date with both our existing shareholders and potential new investors in relation to the equity raising to support these proposals.


Share this article



Latest Businesses for Sale

CPQ Software as a Service Provider
East of England, UK

The company is a provider of Configure, Price, Quote (CPQ) Software as a Service (SaaS) and Data to drive eCommerce. ▸ Long-term framework agreements with key clients. High level of recurring income from contracts. Offers invited.

Asking Price: Offers Invited
Turnover: £3,350,000

LEASEHOLD


Energy Management Providing Meter Readings & Efficiency Analysis
North West, UK

Specialist engineers providing a range of energy management services including the supply & maintenance of electricity billing meters, energy reports & cost budgeting. Contracted to provide metering services on behalf of a major electricity distribut...

Asking Price: Offers Invited
Turnover: £720,000

Plumbing & Heating Engineers
Yorkshire and the Humber, UK

Plumbing & heating engineers offering specialist domestic & commercial services including repairs, breakdown assistance & installation of domestic kitchens, bathrooms & bedrooms, operating from two showrooms. Operates two strategically located showro...

Asking Price: Offers Invited
Turnover: £1,334,000


View more businesses for sale

News Search

Latest News

 
03
 
Apr
 

Chancellor bolsters CBILS for small firms and unveils new scheme for large companies | BUSINESS NEWS

Chancellor Rishi Sunak will today take new measures to suppo...

 
03
 
Apr
 

Benito’s Hat to continue trading despite entering administration | ADMINISTRATION

Fast-casual Mexican food chain Benito’s Hat has entere...

 
02
 
Apr
 

Next puts headquarters and three warehouses up for sale | COMMERCIAL PROPERTY

Fashion retailer Next has put its head office and three ware...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources