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Marine Point: Home to Morrisons, Home Bargains and Light cinema sold for £44m

A leisure destination in New Brighton, which is home to the likes of Morrisons, Home Bargains and Starbucks, has been sold for £44m.

Real estate investment company Aprirose has sold Marine Point to David Samuel Properties.

The 234,615 sq ft development is anchored by a Morrisons supermarket while it also includes a seven-screen Light cinema, 66-bed Travelodge and range of other operators including Iceland, Greene King, Prezzo and Costa, with almost 700 car parking spaces available to visitors.

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Marine Point welcomes over half a million visitors a year.

Aprirose’s chief investment officer Meenal Devani said: “We are pleased to have executed the sale of this asset, taking the opportunity to recycle our capital as we look to continue to invest heavily in sectors such as affordable PRS, student accommodation, hospitality, leisure and industrial real estate.”

CBRE acted for Aprirose while David Samuel Properties was advised by Metis Real Estate Advisors.

Source: www.business-live.co.uk

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