Grosvenor Shopping Northampton is under new ownership after it was snapped up by Evolve Estates, the national commercial property and investment company.
The real estate company, which is part of the M Core group, has added the 319,048sq ft of prime retail, leisure and events space to its rapidly growing retail portfolio, acquiring it from L&G for an undisclosed sum.
Joe O’Keefe, one of the founding partners of Evolve Estates, said: “We are pleased to have completed this acquisition in an incredibly challenging market, cementing our commitment to continued investment in the retail sector.
“This is one of the largest retail centres to come under our ownership and we’re excited to get to work. We’re already in discussion with numerous tenants who will complement the scheme and the wider Northampton town centre offer.
“It’s also rare to find a scheme like this, with so many positive projects going on in and around it. There are more than £25m of government-backed development projects immediately surrounding the centre on three separate sites, with Market Square, Greyfriars and the Abington Quarter, plus the Clock House key worker residential scheme. These will provide significant opportunities for us and the town to grow and fulfil its potential.”
The two-storey shopping centre was comprehensively refurbished in 2015 and is anchored by Primark, Boots and Next. Other national retailers include Office, Superdry, Lush, Pandora, Smiggle, Deichmann Shoes, and River Island. It has an 809-space multi-storey car park, which is owned and operated by West Northamptonshire Council.
