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PropInvest goes shopping in Wolverhampton

Estates Gazette 14.04.2007

Glenn Maud's PropInvest continued its retail investment spree this week with the purchase of PRUPIM's 500,000 sq ft Mander Centre in Wolverhampton.

The shopping centre was put up for sale as part of almost £400m of retail assets that PRUPIM brought to the market in January. It is the last of the properties to change hands.

Maud is understood to have paid £120m for the Wolverhampton scheme.

PRUPIM first put the 1960s-built mall on the market in September last year but pulled the sale after a lack of interest. The centre will face stiff trading competition with Multi Development's £265m New Summer Row. The 600,000 sq ft shopping centre, which is anchored by a 105,000 sq ft Debenhams, is scheduled to open in 2010.

HP Four are acting for Propinvest.

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