Capital & Regional is exploring a sale of The Mall in Camberley after receiving an unsolicited offer for the shopping centre at a price of around £88.5 million.
Hugh Scott-Barrett, the company’s chief executive, said: “As markets have stabilised in recent weeks we are seeing a number of opportunities to recycle capital on terms which will enable us to crystallise attractive returns.”
The 390,000 sq ft centre is located close to Sandhurst Military Academy, and attracts around 9.7 million visitors a year. It has 152 units and is home to retailers including House of Fraser, Topshop, TK Maxx, Boots and Primark.
In May, Capital & Regional won planning consent for a £4.5m revamp of the Mall following designs by Silver & Co, which will include new lighting and flooring throughout.
Credit: CoStar
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