THE South African-based owners of the Market Place are relative newcomers to the UK — but have already bought two shopping centres in Scotland.
The Bolton deal is only their third in the UK and is part of the Moorgarth Group’s new strategy of importing expertise from South Africa.
After Moorgarth were unveiled as the Market Place’s new owners yesterday, chief executive Tim Vaughan said that other shopping centres in the North West were also now on their radar.
Moorgarth’s major shareholder is billionaire Christo Wiese, the third richest man in South Africa.
The company manages a property portfolio currently worth £50 million across the industrial, leisure and retail sectors.
Wiese is reported to be focusing on the UK property market after his offshore investment company, Tradchold, sold its remaining retail investment last year.
He is also believed to be eyeing up several UK retailers.
Wiese has a £2.2 billion fortune and is chairman and largest shareholder of Africa’s biggest retailer, supermarket chain, Shoprite.
Moorgarth’s UK headquarters is in Leeds.
More on the plans for The Market Place:
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