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March 2016

Topland goes shopping for High Street Retail

The Topland Group of Companies led by Sol Zakay is pleased to confirm that it has acquired 20-32 Abington Street Northampton for just under £7.5m. 

This well located block of prime retail sits on the junction with Northampton’s main pedestrian thoroughfare, Abington Street and Fish Street. It is immediately opposite the main entrance to the Grosvenor Shopping Centre which recently welcomed a major new Primark and a Next store to the scheme.

The large large multi-let block comprises nine tenants including HSBC, Select, Virgin and William Hill. There are two floors of offices above which could be converted to residential use. 

Topland has substantial capital to deploy and the Abington Street purchase is a good example of Topland’s willingness to buy interesting properties on the High Street and elsewhere with good asset management opportunities and strong cash flows.

Group Asset Management Director Steve Pope said: “We are delighted to have acquired this property within a tight timescale, as a cash buyer. We are keen to acquire more in the current market conditions where we believe we can add value”.

Topland was represented by retail specialist GCW and real estate lawyers BrookStreet Des Roches whilst the seller was represented by Jackson Criss and Herbert Smith Freehills respectively.