Pillar Property has sold its remaining 50% interest in the Gallions Reach shopping park (pictured) in Beckton, east London for £78.7m to a consortium of Irish investors, headed by Bank of Ireland Private Banking.
The 209,000 sq ft open A1 scheme, which is adjacent to a 109,000 sq ft Tesco Extra Store, has tenants including Next, Topshop, Topman, Dorothy Perkins, Boots and Borders.
The remaining 50% share of the centre is owned by the Hercules Unit Trust, to which Pillar is property adviser. HUT will retain the ongoing asset management of the shopping park.
