Phoenix Life has acquired the Beacon from Legal & General IM
Stephen Scott and Charlie Barke survey the changing investment market for retail
The firm has bought four shopping centres in the past year
Site spans 30 acres and comprises more than 50 stores
The partnership will focus on shopping centres, retail parks, office blocks and portfolios
It acquired the centre for £47.6m – less than half of what BCC Eiffel paid in 2015
The sale price represents a 5% discount to the asset’s book value in December 2017
The purchaser will seek to regenerate the 495,000 sq ft centre
The business will focus on reviving and repurposing brownfield sites in London and the South East
The REIT is in discussions to buy a 20% stake in the Queensmere and Observatory centres in Slough
The Nicholsons Centre in Maidenhead, Berkshire, has appointed receiver BDO
The shopping centre owner’s share price rose by 26%