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Prime Tyneside shopping park snapped up by London real estate giant in landmark deal

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The £100m-plus Team Valley retail park was put on the market last autumn

The popular shopping park Retail World has been bought by AP UK

The popular shopping park Retail World has been bought by AP UK(Image: Google Earth)

A prime North East shopping park with a £100m-plus price tag has been snapped up by a London real estate company.

Retail World at Team Valley in Gateshead – which started life as a manufacturing park in the 1930s – was put up for sale by owners Ares Management last autumn. The sale was launched 10 years after Ares bought the site from UK Land Estates, together with retail parks in Dundee and Derby, in a deal worth as much as £291m.

Ares took on the 370,000 sq ft of retail accommodation, spread over 24 units, and carried out their own major investments which were completed in 2019, adding a host of new food and drink outlets and retail units. Today, Retail World is recognised as one of the region’s standout retail destinations, with 391,000 sq ft of space and a diverse mix of more than 30 brands, anchored by top retailers including M&S Food, Hotel Chocolat, Boots, Metro Bank, TK Maxx, Currys, Dunelm, Costa Coffee and B&M Bargains.

Now Ashtrom Properties UK Limited (AP UK) has acquired the park from a reported £100m-plus asking price, adding to its expanding portfolio. The transaction comes after the company went into exclusive talks with the owners at the end of last year.

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London based AP UK is a privately owned real estate company specialising in the acquisition and development of prime real estate, including commercial and office schemes such as Exchange Flags in Liverpool, No. 8 First Street in Manchester, Central Square in Leeds, and Colmore Gate in Birmingham. The deal – heralded as one of the most significant regional real estate deals of the past year – demonstrates the strong appetite for well-placed retail assets which continue to drive strong regional footfall.

Law firm Freeths advised Ashtrom Properties UK Limited (AP UK) on the acquisition. The transaction was led by Freeths Real Estate team, comprising director Ayesha Qayum, partners Craig Jones and Daniel Abrahams and senior associate Sophie Moonshine, together with support from the corporate team.

Guy Lewinsohn, CEO of AP UK, said: “We are delighted to have completed the acquisition of Retail World at Team Valley. This investment aligns with our strategy to expand our UK footprint and invest in high-performing regional assets. We appreciate the dedication and expertise of the Freeths team together with all the advisers involved in bringing this transaction to a successful close.”

Sarah Jelly, director and head of legal at AP UK, added: “Navigating the intricacies of this corporate acquisition was a collective effort of which the AP UK team are very proud. The team at Freeths provided seamless legal support and the technical expertise necessary to bring this complex deal to a conclusion.”

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Ms Qayum said: “It has been a privilege to advise AP UK on this landmark acquisition of Retail World. Acting on such a significant transaction for our client has been incredibly rewarding, and I am delighted to have played a role in supporting their ongoing growth within the UK property market.”

The park was marketed by Savills and Vedra Property Group, which said on launching the sale that it “reflects continued investor confidence in the retail park sector, where strong tenant demand and robust footfall are underpinned by the format’s proven role in serving communities and adapting to evolving consumer behaviour.”

Like this story? For more news from the commercial property scene around the regions, visit our dedicated section here for the latest news and analysis within the sector.

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Adobe pays $75 million to settle US lawsuit over termination fees, subscription cancellations

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Governor Primary Polls Show Eric Swalwell Surging to Lead in Crowded Field

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Eric Swalwell

A new Emerson College Polling survey released March 11, 2026, shows Democratic U.S. Rep. Eric Swalwell emerging as the frontrunner in California’s nonpartisan primary for governor, capturing 17% support among likely voters just three months before the June 2 election.

Eric Swalwell
Eric Swalwell

The poll, conducted March 7-9 in partnership with Inside California Politics and Nexstar, surveyed 1,000 likely voters and carries a credibility interval of plus or minus 3 percentage points. Swalwell’s lead marks a shift from earlier surveys where Republicans held stronger positions, reflecting growing consolidation among Democratic voters.

Trailing Swalwell are Republican commentator Steve Hilton at 13%, billionaire environmentalist Tom Steyer and Riverside County Sheriff Chad Bianco tied at 11% each, and former U.S. Rep. Katie Porter at 8%. A significant 25% of likely voters remain undecided, underscoring the fluid state of the race in the nation’s most populous state.

“Rep. Swalwell’s support increased among Democratic voters in the past month from 23% to 27%, along with Tom Steyer, whose support among this group also increased from 12% to 16%,” said Spencer Kimball, executive director of Emerson College Polling. The gains suggest Democrats are coalescing around familiar names as the field of more than a dozen candidates—nine Democrats and two Republicans—competes to advance the top two to the November general election under California’s top-two primary system.

The Emerson results align with a March 11 UC Berkeley Citrin Center for Public Opinion Research poll for Politico, which showed Hilton leading at 19%, followed by Steyer at 13%, Swalwell at 11%, and Bianco at 11%. That survey of 1,004 likely voters had a margin of error of plus or minus 3.3 percentage points and highlighted Hilton’s strength among independents and Republicans.

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Earlier polling from the Public Policy Institute of California in late February painted a tighter picture, with five candidates in a virtual tie: Hilton (R) at 14%, Porter (D) at 13%, Bianco (R) at 12%, Swalwell (D) at roughly similar levels, and Steyer (D) close behind. PPIC’s February 3-11 survey of likely voters found about 10% undecided at that time, with satisfaction in the candidate field at around 60%.

The race to succeed term-limited Gov. Gavin Newsom has drawn national attention as California remains a Democratic stronghold, though Republicans have occasionally advanced to the general election in recent cycles. The top-two finishers advance regardless of party, setting up potential Democrat-vs.-Democrat or Democrat-vs.-Republican matchups in November.

Swalwell’s rise comes amid his emphasis on affordability, public safety, and progressive priorities, resonating in a state grappling with high housing costs, homelessness, and economic pressures. Hilton, a former Fox News contributor, appeals to conservative and independent voters frustrated with Sacramento’s direction, while Bianco leverages his law enforcement background on crime issues. Steyer brings environmental credentials and financial resources, and Porter maintains progressive appeal from her congressional tenure.

Undecided voters and low single-digit support for others—including San Jose Mayor Matt Mahan, former Los Angeles Mayor Antonio Villaraigosa, and several lesser-known contenders—suggest room for movement as campaigning intensifies. High-profile names like Mahan, backed by Silicon Valley donors, could see surges with increased visibility.

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Broader voter sentiment from the PPIC survey showed majorities prioritizing candidates’ positions on affordability for both governor and congressional races. About seven in ten likely voters expressed interest in town halls and debates, while half said they were not closely following the race yet.

The June primary also features contests for other statewide offices, U.S. House seats, and the state Legislature, with Democrats favored in most congressional matchups per PPIC findings (62% to 36% over Republicans). The governor’s race dominates headlines, however, as the most high-stakes open contest in decades.

As the campaign heats up, fundraising reports, endorsements, and debate performances could reshape the field further. With significant undecided blocs and shifting Democratic consolidation, the race remains wide open heading toward the primary.

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Micron: Dirt Cheap Before Earnings

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Mach Natural Resources LP 2025 Q4 – Results – Earnings Call Presentation (NYSE:MNR) 2026-03-13

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q4: 2026-03-12 Earnings Summary

EPS of $0.50 beats by $0.23

 | Revenue of $387.54M (64.95% Y/Y) beats by $28.00M

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Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Tower Semiconductor: The Hidden AI Photonics Winner (NASDAQ:TSEM)

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Tower Semiconductor: The Hidden AI Photonics Winner (NASDAQ:TSEM)

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Hi, I’m Yiannis. Spotting winners before they break out is what I do best.Experience: Previously worked at Deloitte and KPMG in external/internal auditing and consulting. Education: Chartered Certified Accountant, Fellow Member of ACCA Global, with BSc and MSc degrees from U.K. business schools. Investment Style: Spotting high-potential winners before they break out, focusing on asymmetric opportunities (with at least upside potential of 3-5X outweighing the downside risk). By leveraging market inefficiencies and contrarian insights, we seek to maximize long-term compounding while protecting against capital impairment.Risk management is paramount—we seek a strong margin of safety to protect against capital impairment while maximizing long-term compounding. Our 2-3 year investment horizon allows us to ride out volatility, ensuring that patience, discipline, and intelligent capital allocation drive outsized returns over time.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of TSEM, AAOI, NVDA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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