Portfolio expansion in UK retail following acquisition of noted retail asset in Chippenham, UK
We have made a string of strategic acquisitions this year and are committed to continue investing in community retail centres and parades where we believe we can add significant value to.
Chippenham’s Borough Parade is a thriving community centre where independent boutiques and restaurants nestle among some well-known national names. Our asset management team is already investigating ways of attracting tenants to the available units and we hope to make announcements in the near future.
Retail remains a great sector to invest in and we are excited to take Borough Parade into our growing portfolio.
Borough Parade in Chippenham has new owners after Evolve Estates, part of M Core, acquired the retail centre for an undisclosed sum.
Borough Parade in Chippenham has new owners after Evolve Estates, the national commercial property and investment company, acquired the retail centre for an undisclosed sum.he Britten Centre in Lowestoft for an undisclosed sum as part of its ambitious and proactive plans to invest in local retail centres across the country.
Evolve Estates, the national commercial property and investment company, is continuing its investment ambitions by acquiring a retail parade in the Wiltshire market town of Chippenham.
It agreed to buy Borough Parade for an undisclosed amount from U+I Group plc and it comes just weeks after securing Three Spires Shopping Centre in Lichfield, which was its biggest retail acquisition of 2022.
The outdoor parade has 27 retail units over 81,823 sq ft and is anchored by Waitrose. Tenants include New Look, Caffe Nero and JD Wetherspoons.
The latest acquisition means the company is projected to have invested £45m by the end of H1 2022.
Built in 1970, the three-storey retail parade is within the city centre’s pedestrianised area and is fully let.
Evolve has a UK-wide portfolio value in excess of £300 million and this acquisition is the latest in a line of retail purchases in recent months. In the past quarter alone, it has acquired multiple assets throughout the UK, boosting its portfolio in the key area of convenience parades and local centres. These include Units 1-8 Exchange Walk and 5-7 St Peter’s Gate Wells, in Nottingham.
Clarke Willmott completed the transaction for Evolve and U+I Group plc’s solicitor was Osborne Clarke.
For details about opportunities at Borough Parade, contact Guy Robinson on gtr@evolveestates.com.
We have made a string of strategic acquisitions this year and are committed to continue investing in community retail centres and parades where we believe we can add significant value to.
Chippenham’s Borough Parade is a thriving community centre where independent boutiques and restaurants nestle among some well-known national names. Our asset management team is already investigating ways of attracting tenants to the available units and we hope to make announcements in the near future.
Retail remains a great sector to invest in and we are excited to take Borough Parade into our growing portfolio.
