Firm snaps up Devonport property empire

More than 15 commercial properties in Devonport village have been bought by Peninsula Capital, which aims to refurbish them and redevelop the area over the next two decades.

The private equity firm – owned primarily by Berridge Spencer, Graham Turley and Mark Hiddleston – had already purchased the old Devonport Borough Council building at 3 Victoria Rd, with settlement due this week.

Hiddleston said negotiations began with major Devonport landlord Vista Linda Ltd a couple of months ago. Peninsula has agreed to buy all Vista Linda’s commercial properties, with settlement at the end of June.

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Hiddleston wouldn’t be drawn on the purchase price, but it would easily run into the tens of millions of dollars.

The Vista Linda portfolio in Devonport includes: 5 Victoria Rd (the Devonport Public House); 7 Victoria Rd (Focus Dental); 9 Victoria Rd; 13 Victoria Rd To page 4