8 The Shop Window Atlantic Village


Outlet Shopping Centre sells to Global Mutual


Acting on behalf of U+I Group Plc, Colliers International has sold Atlantic Village Outlet Centre in Bideford, North Devon, to Global Mutual for £13m. The price reflects a net initial yield of 8.25%.


The 146,322 sq ft scheme opened in 2000 and is anchored by Marks & Spencer and Nike with a total of 41 retail units together with 800 car parking spaces. The investment has been sold with the benefit of a consented petrol filling station which is pre-let to Asda.


Commenting on the sale, James Findlater, Colliers’ Head of Shopping Centre Investment said: “The last few years have seen particularly strong investor demand for factory outlet centres which offer a unique value proposition for consumers matched with low occupancy costs for retailers.


“The alignment of retailer and landlord interests through flexible lease structures promotes genuine partnership and has kept the sector energised despite consolidation in other physical retail formats in the face of online spending growth.“


james.findlater@colliers.com | +44 (0)20 7344 6833


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