The Herbert Group completed the acquisition of Abbey Centre from NewRiver for £59m.

The Herbert Group, a fast food restaurant chain, completed the acquisition of Abbey Centre, a shopping mall, from NewRiver, a property investment company, for £59m. "This off market sale of Newtownabbey is a great example of our specialist platform capabilities, from our disciplined stock selection to transforming the asset into one of the most successful shopping centres in the region and then securing a successful exit at book value. Capital recycling is one of our growth drivers and we believe the success of our asset management initiatives has extracted the maximum value from this asset. We remain on track with other disposals and so whilst this sale brings our LTV to below our guidance, in due course we expect to recycle our capital into opportunities with superior income and capital growth potential. This sale also demonstrates the continuing improvement in investor demand for UK shopping centres," Allan Lockhart, Chief Executive.