Shopping centre is bought in £19m deal

Killingworth Centre.'REF 3001151499
Killingworth Centre.'REF 3001151499

A borough shopping centre has been bought in a near £20m deal.

Development Securities has bought the non-foodstore element of The Killingworth Centre for £19.2m from Wm Morrison Supermarkets.

The 185,000sq ft site contains operators including Poundworld, Wilkinson, Card Factory and Boots.

Matthew Weiner, of Development Securities PLC said: “The Killingworth Centre is a popular and well-located shopping centre that dominates Killingworth’s retail provision meeting all the modern day requirements of the convenience-focussed consumer.

“This high-yielding asset has a stable occupier base and strong footfall driven by Morrisons, which will remain outside of our ownership.”