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The Viking Centre, Jarrow, UK. /// credit: BARQUES
The Viking Centre, Jarrow, UK. /// credit: BARQUES

Evolve Estates acquires Jarrow shopping center

British commercial property and investment company Evolve Estates, part of M Core, has acquired the Viking Centre, Jarrow.

Located in the heart of Jarrow, the Viking Centre has more than 60 stores occupying over 16,200 sq m of retail space and 400 car parking spaces. The center is anchored by national brands including Boots, Peacocks, B&M and Poundland.

Danny O’Keefe, founding partner of Evolve Estates, said as an acquisitive company, it had, over the past few years, focused its growth plans on the retail sector, strategically targeting shopping centers, parades and malls, including out-of-town centers.

“This deal marks Evolve Estates’ expansion into the North East market and demonstrates our commitment to supporting local communities and businesses,” O´Keefe explains.

“We have long maintained that the retail sector is a strong market for investing, providing excellent opportunities for us to add significant value that benefit the tenants and the local community, as well as ensuring a good return on our investment. We’ve a significant pipeline of retail acquisitions for the rest of 2023 and expect to complete more than £300 million worth by the end of the year. Part of our strength is our healthy cash reserves, which mean we can complete a deal quickly when we need to”, adds Danny O´Keefe.