London-based real estate investment company Aprirose has sold Marine Point, a prime multilet leisure scheme located in New Brighton, an affluent seaside resort on the tip of the Wirral Peninsula located in the north west of England located between Liverpool and North Wales.
The 234,615 sq ft development, which is anchored by a Morrisons supermarket, has been sold to David Samuel Properties for £44 million.
In addition to the supermarket, the scheme incorporates a seven screen Light cinema, 66-bed Travelodge and range of other operators including Iceland, Greene King, Home Bargains, Prezzo, Costa and Strabucks, with almost 700 car parking spaces available to visitors.
Marine Point is one of the Wirral’s leading attractions, welcoming over half a million visitors a year who come to enjoy the range of amenities and waterside setting, with panoramic views across the sea and marine boating lake.
Meenal Devani, Chief Investment Officer, Aprirose, 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, David Samuel Properties were advised by Metis Real Estate Advisors.