With Waitrose as the anchor tenant and 114,052 sq ft of retail space across 32 units, as well as a food store, a gym and a 436-space multi-storey carpark, the centre receives high footfall from a vast catchment area in a well-connected part of North London.
ASK is delighted to have provided a £21.65m senior loan to BYM Capital, secured against The Spires shopping centre in Barnet.
Elliot Blatt, Investment Manager at ASK said:
“We were delighted to provide financing to BYM Capital on this site. Retail has clearly been significantly impacted by the pandemic but shopping centres such as this with anchor tenants on long leases, are still benefiting from high occupancy and footfall. I believe customers are still looking for a retail experience, possibly even more so since the national lockdowns and I am sure BYM Capital will be successful in their approach.”