The Mander Centre snapped up
The Mander Centre in Wolverhampton has been bought by London-based property company Delancey as part of a reported £900m deal.
It is one of the assets bought by the company in its acquisition of the Blade portfolio, from Propinvest Group, for an undisclosed sum. Delancey has partnered with existing lender Royal Bank of Scotland on the acquisition.
Delancey will strategically asset-manage the entire portfolio with assistance from DTZ. The Mander Centre comprises approximately 485,000 sq ft of retail space with 57,000 sq ft of offices trading.
Tim Haden-Scott, of Delancey, said: “We are delighted to have extended our working relationship with RBS on unlocking this portfolio. This complex transaction represents an opportunity for Delancey to create substantial added value through our extensive asset management expertise.”
There are 11 other assets within the portfolio, spread across the leisure, retail, office and warehouse sectors.
