RivingtonHark as strategic and Asset Managers have supported Redical Holdings on the corporate purchase of the Hammerson companies that own “Victoria Leeds”. This was a £120m off market transaction of an estate that fits the core strategy of acquiring quality Institutional retail assets in the current economic environment.

Victoria Leeds is a unique estate. Some 625,000 sq ft in the heart of the City. It includes the Grade II listed Victoria Arcade housing Harvey Nicholls, Vivien Westwood, Louis Vuitton, Ralph Lauren and both Ivy and Ivy Asia. Victoria Gate was developed and opened by Hammerson in 2016 and includes Yorkshires only JLP store, the best multi-story car park in the city, and VGC Casino. Inside the malls it includes Rolex and Peloton.

The strategy is to bring greater animation, quality retail and both F&B and competitive leisure into the estate. There is huge potential working with all the Stakeholders, both inside and around the asset.

The aim is to hold long term, and RivingtonHark are retained Asset managers.