Swan Walk, located in Horsham town centre, has been acquired by real estate company, CUBE RE, from Knight Frank.

Receivership is a legal situation which sees a business held by a receiver who is responsible for its assets.

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Swan Walk (Image: CUBE RE) Featuring a number of popular high street shops including Marks & Spencer and Boots, the centre is 300,000 sq ft big.

It also houses office space which Horsham District Council is set to occupy in the new year.

Nic Lowry, Investment Director at Cube, said Swan Walk was ‘a great addition to the fund’ with an opportunity to add value including building improvements and ‘look at the medium-term development potential’.

The acquisition of the leasehold is part of Cube’s JV Hathaway Opportunity Fund.

David Erwin of Dunluce, who advised Cube on the purchase of Swan Walk, said: “It’s been a challenging journey for the shopping centre sector, with true value in short supply.”

He described Swan Walk as ‘an exciting acquisition opportunity at a time when the sector is displaying positive signs of recovery in a town where the demographics are strong, retail supply is limited, the local authority are fully engaged, and where occupiers are thriving within the scheme’.