The Ardent Companies, the US-based real estate investment and asset management firm, has exchanged on a deal to acquire Touchwood shopping centre in Solihull from Lendlease Retail Partnership (LLRP).
The 650,000 sq ft Solihull shopping centre attracts an annual footfall of 13 million, and is anchored by the only John Lewis store in region, and encompasses the town’s Crescent Arcade. Tenancies at Touchwood also include Apple, H&M, Zara, Next and a Cineworld cinema.
Matt Shulman, CEO at The Ardent Companies, commented: “Touchwood is in a particularly strong location and already has an impressive retail and leisure line up. The opportunity to work closely with top brands, Solihull Council and the community at an exciting time for the wider area was an important part of our decision to invest. We’re looking forward to bringing our expertise and experience to the table to continue improving the retail environment at Touchwood.”
Knight Frank acted for Ardent on the transaction, and CBRE acted for Lendlease.