Westmount Shopping Centre SoldFebruary 6, 2018 11:02am
Westmount Shopping Centre has new ownership.
The southwest London mall was bought last month by Kingsett Real Estate Growth and Corpfin Capital Acquisition Fund. The previous owner, Vancouver-based Bentall-Kennedy, had owned the 538,150 sq ft facility since 2005.
Kingsett is a private equity real estate investment business with over $10-billion in assets, while Corpfin Capital is an independent investment fund management company.
Management, leasing, and redevelopment of the property has been awarded to McCOR Management by the new owners.
“Ownership sees this property as a great re-positioning opportunity to create a vibrant mixed-use development,” McCOR Management said in an online statement.
Build in the 1970s, Westmount Shopping Centre is home to retailers, medical offices, and a Cineplex Odeon movie theatre. Hurt by big box stores, it has struggled over the past ten years. Most recently, the mall lost its anchor store Sears, which closed last month.