Market Gates Shopping Centre Bought From Administrators

National law firm Irwin Mitchell’s real estate team has acted on the acquisition of Market Gates Shopping Centre in Great Yarmouth by the Ellandi Retail Fund. The property was bought from administrators.  Market Gates is an approximately 220,000 sq ft retail scheme in the heart of Great Yarmouth and was refurbished in 2008. It is anchored by Debenhams, New Look and Wilkinsons.
 
Funding for the acquisition was provided by Chenavari Investment Managers.
 
Specialist asset manager, Ellandi, now plans to target a portfolio of high yielding locally orientated shopping centres with further funding from Chenavari.
 
The Irwin Mitchell team was led by real estate partner Jo Footitt, finance partner Simon Tweedle and corporate partner Jayne Schnider, assisted by Claire Illingworth and Sarah Gauer.