Ares considers £105m sale of Retail World Gateshead

International investor Ashtrom Properties has entered negotiations to acquire the 400,000 sq ft asset.

Located at Team Valley Retail Park, Retail World Gateshead was developed by Stadium City in the 1980s, and originally comprised approximately 370,000 sq ft of retail accommodation in 24 units.

In 1996 it was acquired by UK Land Estates for  £47m, before being bought by Ares Management along with two other UK retail parks in Dundee and Derby  for a combined total of around £260-291m in November 2015.

An expansion was completed in 2019, adding more retail and food units, including tenants like Card Factory, O2, Bells Fish & Chips, and Costa Coffee.

Today it has 30 tenants and is one of the 20 largest retail outlets in the UK.