The Isle of Wight's only retail and leisure park has changed hands in a£12 million deal.
Axa Sun Life has bought the 74,000 sq ft (6,875 sq m) Coppins Bridge development on the eastern outskirts of Newport - the island's capital - from a client of FPDSavills.
The scheme is three years old and anchored by an 11-screen Cineworld multiplex. It is supported by Pizza Hut and Chicago Rock Cafe restaurants, a KFC drive-thru and 297 parking spaces. In addition, there are two large retail units, one of which is let to Staples office supplies. The other, formerly occupied by B&Q, is vacant.
AXA has appointed Nelson Bakewell as managing agent.
Nelson Bakewell associate Stuart Adams said: 'Coppins Bridge is an attractive investment for our client, being the dominant leisure/retail park on the Isle of Wight.'
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