£12.69m acquisition financing secured for open-air shopping centre in Chesterfield

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Credit: Shutterstock.com/ Linda Bestwick

HFF Real Estate Limited (HFF) is providing £12.69 million in acquisition financing for Vicar Lane, a 216,790-square-foot, open-air shopping centre in Chesterfield.

The HFF team worked on behalf of the borrower, ALTERIS to place the five-year, fixed rate loan with AgFe.

Vicar Lane was completed in 2000 as a purpose-built, open-air centre with views of the famous crooked spire of Chesterfield’s Church of St Mary and All Saints, which draws more than three million day trippers visiting annually.

Anchored by TJ Hughes and H&M, the 95-percent-leased centre is also home to River Island, Iceland JD Sports, New Look, Superdrug, Deichmann, Waterstones, Holland & Barrett, Clydesdale Bank, O2 and Three Store.

The HFF debt placement team working on behalf of ALTERIS included managing director Edward Daubeney.

“This transaction proves there is demand for well-let retail opportunities with ongoing tenant demand and a good future,” Daubeney said.