15 June 2024

The Maltings Shopping Centre sold to new real estate manager for £15.5 million

The Maltings Shopping Centre in Salisbury has been sold to a new real estate asset manager that aims to “unlock the latent long-term development opportunity of The Maltings.”

Catella APAM, a specialist UK real estate asset manager has bought The Maltings Shopping Centre for £15.5 million with development partner Sunley Developments.

Leader of Wiltshire Council, Cllr Richard Clewer, confirmed the news, “I can confirm that the council entered into dialogue with the new owners of the shopping centre, Catella APAM, soon after they acquired the property last year.

“These discussions have been very positive, but remain at an early stage, and no specific plans have been tabled by the new owners at this time although the dialogue is active and ongoing.

“The council retains the freehold of the shopping centre and remains a key stakeholder in the delivery of any future scheme. It is looking forward to working closely with the new owners on their plans as they evolve.”

The Maltings, Salisbury

Previously, plans to relocate the library and make it a part of The Maltings redevelopment were put on hold after funding was reallocated to the River Park scheme.

The plans included incorporating the library into a mixed-use development on Fisherton Street, on the former British Heart Foundation site, which would also include a hotel and a gym.

While this is yet to be confirmed, sources close to Love Salisbury believe that the Fisherton Street site has been sold to a construction company whose portfolio of projects include building Travelodge hotels. Other sources close to us revealed that the hotel could become a Travelodge PLUS.

According to Wiltshire Council and Mark Freeman, Centre Manager for The Maltings, the Fisherton Street site was sold separately to The Maltings Shopping Centre in December 2021, with redevelopment set to “commence sometime early this year.”

Speaking about becoming the new owners of The Maltings, a spokesperson for Catella APAM said, “We are working closely with Wiltshire Council to plan a combined strategic development for the site whilst maintaining the excellent retail and restaurant facilities within our ownership.”

Commenting on the deal, Patrick Anderson, Head of Special Situations at APAM added, “We don’t take a one size fits all approach and are happy to work with incumbent stakeholders, particularly Local Authorities, to recapitalise and reposition assets as well as acquire them outright.”

Written by
Beth Doherty
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Written by Beth Doherty