Forsters advise Benson Elliot on acquisition of Quedam Centre, Yeovil
Forsters advise Benson Elliot on acquisition of Quedam Centre, Yeovil
Forsters has advised new client, UK-based private equity real estate fund manager, Benson Elliot Capital Management LLP on the acquisition of the Quedam Shopping Centre in Yeovil, Somerset from UBS Global Asset Management.
The Quedam Centre is an open 175,000 square feet shopping centre located in the heart of Yeovil anchored by BhS with other retailers including TopShop, Monsoon, River Island, Boots and Starbucks. The asset comprises the 45-unit Centre together with 4 high street shops, a 650-space multi storey car park and an adjoining development property, the 50,000 square feet Vincent's Yard.
The Centre is currently 16% vacant providing opportunities for Benson Elliot to undertake a proactive asset management programme, maximising income from the property by reconfiguring and leasing up available space, re-gearing existing leases and managing down costs.
Commercial Property partner Andrew Crabbie led the Forsters team advising on the acquisition, assisted by James Noble.