Press Releases
- 2012
- Moorfield complete on former Print Works site in Exeter to build 487 bed student accommodation scheme - 20 Jan 2012
- Moorfield acquires Salisbury House, Finsbury Circus, EC2 - 20 Jan 2012
- Brindleyplace continues to invest in its facilities through new car park contract - 9 Jan 2012
- Moorfield Acquires Salisbury House, Finsbury Circus EC2 - 6 Jan 2012
- 2011
- Moorfield and Segro announce the acquisition of the UK Logistics Fund - 19 Dec 2011
- Moorfield acquires The Towers, Didsbury from Wereldhave - 18 Nov 2011
- Skypark one year on – With new lettings and lease renewals totalling over 146,000sq ft and the first phase of the multi-million pound refurbishment underway – Skypark is a hive of activity - 10 Nov 2011
- Top UK businesses choose West Riding House - 7 Oct 2011
- Moorfield announces £35m acquisition of Primark Distribution Centre - 29 Sep 2011
- Moorfield exits The Capital Pub Company Plc - 26 Sep 2011
- Debenhams to anchor Cornmill extension - 29 Jul 2011
- Newly refurbished office space released to market at Four Brindleyplace - 30 Jun 2011
- Moorfield and Safeland move in on hostel market - 19 Apr 2011
- Moorfield launch the White Knight Partnership - 6 Apr 2011
- The Glasgow School of Art sculpts its future at Skypark - 30 Mar 2011
- Moorfield secures iconic West Riding House in Leeds - 9 Feb 2011
- 2010
- Moorfield sell Mallard House to National Instruments at Newbury Business Park - 30 Dec 2010
- Moorfield buys in Darlington to allow for the Cornmill Shopping Centre expansion - 4 Oct 2010
- Grainger and Moorfield announce formation of Sovereign Reversions Equity Release Joint Venture - 23 Aug 2010
- Moorfield venture further into Yorkshire and Humber with Holbeck Land - 28 Jul 2010
- Brindleyplace acquisition completed by Hines Global REIT and Moorfield - 23 Jul 2010
- Moorfield and Hines Global REIT invest in Brindleyplace, UK - 1 Jul 2010
- Next Step for Cornmill Shopping Centre - 26 Jan 2010
- Moorfield and PAG launch north west property JV - 15 Jan 2010
- 2009
- Audley acquires Wiltshire’s White Horse Care Agency - 23 Jun 2009
- The Ridings celebrates completion of multi million pound refurbishment works - 13 Feb 2009
- Moorfield announces £30m sale and leaseback deal with Mitchells & Butlers - 7 Feb 2009
- Moorfield, Plus Shops and KLM to launch new retail venture - 27 Jan 2009
- 2008
- 2007
- New dock facility for Westway as commercial traffic returns to river cart - 10 Sep 2007
- Cornmill Shopping Centre Extended in £8.4m Deal - 25 Jun 2007
- Moorfield Real Estate Fund awards hotel contract to Accor - 20 Mar 2007
- Second Moorfield fund closes with £1. 6 bn of buying power - 8 Feb 2007
- Moorfield Real Estate Fund acquires 24 Macdonald hotels - 26 Jan 2007
- MREF Buys Cornmill Shopping Centre, Darlington - 5 Jan 2007
MREF Buys Cornmill Shopping Centre, Darlington
Moorfield Real Estate Fund announces the £84.5 million acquisition of the Cornmill Shopping Centre, Darlington from Investream. The Cornmill Shopping Centre is a further addition to the £1.1 billion Moorfield Real Estate Fund which currently consists of The Ridings Shopping Centre, Wakefield; The Capitol Shopping Centre, Cardiff; a portfolio of WA Shearings hotels and student accommodation sites in Loughborough and Winchester.
The Cornmill Shopping Centre is the dominant shopping centre in Darlington. It comprises of 221,066 sq ft (20,616 sq m) of retail accommodation as well as an adjoining 402 space multi-storey car park.
There is a strong tenant mix with high street fashion retailers such as New Look, Bon Marche, Dorothy Perkins and TK Maxx as well as other national multiple retailers such as WHSmith, HMV and Clarks. The scheme is anchored by a new 38,475 sq ft (3,574 sq m) Primark store contributing to a significant rise in the footfall, which was increased by over 19% in 2006.
The shopping centre was an appealing investment to Moorfield Real Estate Fund due to the number of asset enhancement and development opportunities to increase the rental stream in the short to medium term.
Marc Gilbard, Managing Director of Moorfield Group, which is the investment and asset manager of MREF, said:
“The Cornmill Shopping Centre is located in a town that is undergoing major regeneration and revitalisation. The pedestrianisation of the high street is due to complete shortly and the proposed extension of the nearby Queens shopping Centre will bring considerable benefits to the town centre. Our research shows that this is likely to create significant rental uplift in the town generally by providing an increased retailing offer for the consumers and move the town up the retail hierarchy. Moorfield will actively manage and upgrade the Cornmill Shopping Centre to ensure it remains a strong draw for both consumers and tenants.”
DTZ Debenham Tie Leung acted for Moorfield Real Estate Fund and Savills acted for Investream.
Herbert Smith LLP were legal advisors to Moorfield Real Estate Fund and RSM Robson Rhodes LLP were tax advisors. Naburro Nathanson were legal advisors to Investream.
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