Gouldens - Retail Sale - Manchester, Crown Point North Shopping Park

Date: 28 Nov 2002

Gouldens have advised long standing client, Pillar Property within the last month.

The financing and acquisition of Crown Point North Shopping Park, east Manchester for a consideration of approximately £100 million.

Crown Point North is located at junction 1 of the M67. The shopping park is to be developed by Reeb Estates Limited and Maple Oak Plc (a subsidiary of John Mowlem & Co Plc). The shopping park will be a fashion orientated scheme of 212,500 square feet comprising units which will range from 4,000 square feet upwards, including one restaurant unit and 800 car parking spaces.

The finance agreement provides for the funding of the development by Pillar through stage payments and an overage payment following the grant of the occupational leases.

The Gouldens team comprised David Roberts, Dominic Hornblow, Friday Biddle, Juliet Thomas, Virginia Goode, Oliver Azzuri (property), Chris Papanicolaou (environment), Ian Ginbey (planning) and Jake Davies (construction).

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