Private investment manager, Signal Capital, supported by retail property and asset management specialist, ESTAMA UK, has completed the acquisition of the Orchard Shopping Centre in Taunton, Somerset, from Patrizia Property Investment Managers.
Housing 152,000 sq ft of retail, leisure, residential and office accommodation, the scheme is the prime retail pitch in Taunton with key tenants including New Look, Waterstones, Superdrug, and The Entertainer.
This acquisition marks the seventh acquisition under Signal Capital’s UK community retail investment strategy programme. Other centres acquired to date are Motherwell, Dunstable, Port Talbot, Redcar, Newmarket, and Caerphilly.
David Roberts, CEO at Edinburgh House Estates and ESTAMA UK commented: “ESTAMA UK has had a strong first year as an independent property and asset management specialist and we plan to maintain this momentum with the continued growth of our portfolio. Investing in new schemes is a priority, finding the right balance of tenants and serving the needs of the local community whether that be through leisure experiences or convenience shopping.”
Colman McCarthy, partner at Signal Capital added: “Signal is delighted to continue our collaboration with ESTAMA UK through the acquisition of the Orchard Shopping Centre in Taunton. We continue to believe in the attractiveness of the UK community retail market, and we are actively pursuing further investment opportunities in this space.”
Montagu Evans advised Signal/ESTAMA UK, KLM advised Patrizia.