The Fashion Arena Outlet Center was owned by landlords TK Development and LMS Outlets Limited. TK Development owned 75% of the scheme with LMS holding the remaining stake.
The scheme provides 25,000 sq m of retail space over 110 stores and is currently 96% leased. The complex was developed by the vendors in two phases, with Phase I opening in November 2007 and Phase II 3 years later.
C&W Capital Markets team has undertaken a detailed commercial due diligence focusing on sustainability of current and future income. All analysis were supported by knowledge of our Retail leasing team who are also actively involved in leasing of the project. Our Project management team has undertaken measurement of the retail units to confirm the correct sizes stated in the lease agreements.
Meyer Bergman bought the Fashion Arena Outlet Center for the transaction price of €71.5 million.