Atlantic Village shopping centre in Bideford has been sold to investment company Global Mutual.

Atlantic Village shopping centre in Bideford has been sold for £13million.

Acting on behalf of U+I , Colliers International has sold Atlantic Village to Global Mutual, an investment company.

Atlantic Village opened in 2000 and is held freehold with open A1 planning consent.

It has a total of 41 retail units extending to 146,322 sq ft together with 800 car parking spaces.

U+I has sold Atlantic Village with the benefit of a consented petrol filling station which is pre-let to Asda.

James Findlater, Colliers’ head of shopping centre investment said: “The last few years have seen particularly strong investor demand for factory outlet centres which offer a unique value proposition for consumers matched with low occupancy costs for retailers.

“The alignment of retailer and landlord interests through flexible lease structures promotes genuine partnership and has kept the sector energised despite consolidation in other physical retail formats in the face of online spending growth.”