Doughty Hanson & Co Real Estate, pan-European property investor and developer, has acquired the Old George Mall in Salisbury for £60 million. 

Doughty Hanson & Co Real Estate, pan-European property investor and developer, has acquired the Old George Mall in Salisbury for £60 million.

The acquisition of the 137,000 sq ft shopping centre is the eleventh investment for Doughty Hanson’s €590 million (£532 million) fund. Other UK investments include Blythe Valley Park in the Midlands, Kings Hill Business Park in Kent and Howick Place, a mixed-use development in Victoria, London.

Kevin Grundy, principal at Doughty Hanson said: “This is an attractive opportunity consistent with our strategy of focusing on assets with significant value creation potential and defensive characteristics. Over the last eight years, Doughty Hanson has invested in 12 shopping centres throughout Europe comprising three million sq ft and a total acquisition value of €570 million. ”

He added: “We intend to apply our expertise in the retail sector to Old George Mall to enhance the shopping experience for the local community and visitors, and to realise the full potential of the property.”