Running Hare pounces on Kingfisher

Running Hare has bought Redditch’s Kingfisher Shopping Centre. The investment management firm purchased the 900,000 sq ft site on behalf of its clients from asset manager Capital & Regional and capital partner Oaktree Capital Management. The centre has 174 tenants, including Primark, Next, TK Maxx and a Vue Cinema, as well as 2,600 car-parking spaces. It also features an 82,000 sq ft former Debenhams store which will need repurposing. Savills placed the shopping centre on the market last year at £50m, but the deal value has not been disclosed. Capital & Regional bought Kingfisher in 2012 as part of a £130m deal with Scottish Widows Investment Partnership. Running Hare was set up in 2019 and has bought eight shopping centres and development sites, with four bought in the past year. Its syndicate is believed to include the Gluck family. In February, Running Hare bought the Belfry shopping centre in Redhill for £18m. The price paid for the Surrey centre was far below the £43.5m it had previously been marketed at. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews