NewRiver Retail, the UK REIT which owns 360 pubs, has confirmed it is in negotiations to acquire the Broadway shopping centre and Broadway Square in Bexleyheath town centre for £120m.
The assets under consideration total 525,000 sq. ft. across an 11-acre site and are predominantly retail and leisure led.
In an update to the City, the company said negotiations are ongoing.
Earlier this month NewRiver was granted planning permission for the mixed-use regeneration of the Martlets Shopping Centre in Burgess Hill, West Sussex. The £65m development includes a 10 screen multiplex cinema, a 63 bed Travelodge hotel, five “leading national restaurants”,142 residential units, a purpose-built modern library, gym, over 500 car-parking spaces and the creation of an additional 70,000 square feet of retail space.
