Reports of Swansgate centre’s sale are welcomed

The firm which owns the Swansgate centre has been bought by another company
The firm which owns the Swansgate centre has been bought by another company
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Business leaders have welcomed reports that a US property investment firm is in the process of buying the Swansgate shopping centre.

The Telegraph revealed last week that US-based company Kennedy Wilson was to buy the centre as part of a £250m deal for the Britannica Shopping Centre fund after a deal was reportedly negotiated with administrator Grant Thornton.

Kennedy Wilson was founded in 1977 and is an international real estate investment and services company headquartered in Beverly Hills, California.

The company has 24 offices in the US, UK, Ireland, Spain and Japan.

Through its fund management and separate account businesses, Kennedy Wilson is a strategic investor of real estate investments in the US, UK, Ireland and Japan. Alan Piggot, chairman of the Wellingborough Chamber of Commerce, said: “It’s great news.

“It proves people are still interested in coming to Wellingborough.”

John Cable, manager of the town’s Business Improvement District, said: “We are very pleased that an investment company such as Kennedy Wilson feels that Wellingborough is a town worth investing in.”

The Telegraph contacted Kennedy Wilson but the company did not respond with a comment.