Share of Guineas centre sold for £18m

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A seventy five per cent stake in Newmarket’s Guineas shopping centre has been sold to the Phoenix Life insurance company and Ignis Asset Management for £18.4 million by previous leaseholder Helical.

Forest Heath District Council owns the freehold of the site and retains a 25 per cent stake in the shopping centre. Council leader Cllr James Waters, said: “We look forward to working with the fund and exploring how we can jointly deliver a wider choice of restaurants, shops and other leisure facilities, such as a new cinema.”