Metro Centre Partnership expands in Gateshead

Published on: 26/08/2007

The MetroCentre Partnership has expanded its retail empire in Gateshead with the purchase of neighbouring retail development, Metro Retail Park, for 82.5m.
The Metro Retail Park adds a further 220,000 sq ft to the 1.8m sq ft MetroCentre shopping complex owned by the Partnership, a joint venture between Capital Shopping Centres, a subsidiary of Liberty International, and an affiliate of GIC Real Estate.
The shopping centre, already the largest covered retail space in Europe, now totals over 2m sq ft of retail and leisure accommodation.
Caroline Kirby, asset management director of CSC, said: It is important that we offer the best opportunities to both our retailers and our shoppers and we believe this acquisition will enable us to do that.


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