Nottingham's Victoria Centre is among four shopping centres acquired by SGS in a £445 million deal, representing the largest such transaction in five years. The deal, which also covers Lakeside, atria Watford, and Braehead Glasgow, signifies growing investor confidence in prime shopping centre assets despite pandemic-related challenges.
Nottingham's Victoria Centre has been part of a £445 million deal that represents the biggest of its kind for a shopping centre in five years. The site was previously run by intu, which went into administration in 2020 due to factors including the coronavirus pandemic.
The four shopping centres, all run by SGS, now have an average occupancy rate of around 93% and experts say sites like the Victoria Centre will only becoming "stronger" going forward. Despite having faced difficulties in the immediate years following the pandemic, rental income across the four sites has now increased by over 20% since 2020.
Senior debt facilities is a type of financing giving the lender the highest priority for repayments, meaning Lloyds would be first in line for cash if SGS ever ran into difficulty. A previous financial restructure at SGS was signed in 2021, when the group had debt totalling £1.3 billion.
Shopping Centres Retail Investment SGS Nottingham Victoria Centre
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