Jones Lang LaSalle - Retail Sale - Wigan, Marketgate Shopping Centre

Date: 28 Nov 2002

Following the purchase of the Galleries Shopping Centre in July 2002, Prime Commercial Properties advised by Jones Lang LaSalle has purchased the adjoining Marketgate Shopping Centre from Miller Developments. The centre was purchased for £11.3 million representing a net initial yield of 7.8%.

The purchase will enable Prime Commercial to use their asset management skills to improve the retail provision within Wigan Town Centre.

Claude Gubbay, Director of Prime Commercial Properties said: “This strategic purchase together with the synergies of our adjoining centre will enable us to create better configured units not only for retailers in Wigan but those wishing to come to the town.”

Jones Lang LaSalle acted on behalf of Prime Commercial Properties, Colliers CRE acted on behalf of Miller Developments.

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