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Castle Dene Shopping Centre, Peterlee
£48 million
- 350,000 sq ft Shopping Centre.
Acquired for client in 1997 and sourced 100% finance package for £16 million and instructed to manage.
- Extension of covered mall and refurbishment of existing mall.
- Relocation of ASDA to a new 85,000 sq ft store.
- Over 80 successful rent reviews agreed at significant uplifts.
- “Management” of tenants during substantial developments and refurbishment work.
- Agreed sale on behalf of Modus Properties to Oracle Estates for £48 million in 2005.
- Riddelltps were retained by Oracle to deal with all ongoing professional matters under their ownership of the scheme.
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