Real estate asset and investment management firm Catella APAM has sold St Stephen's Place Leisure Park in Trowbridge for £11.37 million.
The company acted on behalf of its private client Nexus Properties Ltd, the former owners of the Castle Place shopping centre, which was sold earlier this year.
The Wiltshire Times understands the new owner is Iroko Zen, a French real estate investment trust located in Paris.
The leisure park is being managed in the UK by Bristol-based commercial property agents Knight Frank.
Max Bingham of Catella APAM said: “We are thrilled to have facilitated this transaction on behalf of our clients.
“St Stephen’s Place has been a significant asset in our portfolio, and we are proud of the work we’ve done to maintain its status as a top leisure destination. We are confident that the new ownership will continue to build on this success.”
St Stephen’s Place Leisure Park comprises 83,926 square feet of leisure space and is anchored by an 83-bed Premier Inn hotel and a seven-screen ODEON cinema and a diverse mix of popular restaurants, cafes, and bars.
Other tenants at the 3.16-acre scheme include Nando’s, Wagamama, Prezzo, Loungers, Frankie & Benny’s and the Little Dessert Shop.
It is one of Trowbridge’s main retail parks and its central location and variety of offerings make it a key attraction within the town centre.
The St Stephen’s Place Leisure Park was placed on the market in May with a price tag of £13.5 million following the £534,000 sale of the Castle Place shopping centre in February to a company run by new owner Tahir Ali.
In a statement, Catella APAM said: “St Stephen’s Place Leisure Park, a premier leisure destination located in the heart of Trowbridge, has been a cornerstone of the town’s entertainment and dining scene.
“Catella APAM has managed St Stephen’s Place since 2016, during which time we implemented a series of value-add initiatives aimed at enhancing the asset’s appeal and performance.
“Our strategic management has ensured the continued vibrancy and relevance of the leisure park in an evolving retail and leisure landscape.
“Since taking on the management of St Stephen’s Place in 2016, we’ve been dedicated to enhancing its appeal and performance through strategic value-add initiatives.
“This successful transaction underscores our commitment to delivering exceptional results and highlights the strong demand for high-quality leisure assets in prime regional locations."
Knight Frank and Iroko Zen has been contacted for a comment about the sale.
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