Portswood Shopping Centre sold for £10m; Iceland closing - reports

portswood shopping centre 600px jan 24Portswood Shopping Centre, opposite Waitrose, has been sold for around £10 million, it’s been reported, while Iceland leaving the suburb has separately been in the news.


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The site, which is “fully let to 10 tenants including Iceland, Pizza Hut and the Broadway pub has been sold to specialist UK real estate investment and asset management firm Tri7, according to Property Magazine International.

Portswood Shopping Centre adds to Tri7’s collection of property holdings, which include The Core Shopping Centre in Leeds and The Calthorpe Centre in Banbury.

Tri7 says on its website it has “built a substantial portfolio of commercial and residential assets with significant untapped potential”.

portswood shopping centre wider view jan 24 600px
It adds its main investment strategy is to “acquire opportunities across the UK, identifying sites and assets where an uplift in value can be achieved in the short to medium term through astute asset management”.

Quoted by Property Magazine International, partner Samuel Castle said the centre offered the type of opportunity the company thrives on: “an income-producing scheme that benefits from long-term development potential”.

Separately, it was recently reported in the Daily Echo that Iceland will be closing its Portswood branch on March 2, although the specific reason wasn’t given. The outlet has recently closed a number of other branches.

portswood shopping centre 600px jan 24

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