Credit: Evolve Estates

Evolve Estates acquires Kent convenience retail centre

Evolve Estates, the national commercial property investment company, has begun 2021 on a strong footing, acquiring Swanley Square retail centre in Sevenoaks, Kent.

The company bought the 95,000 sq ft shopping parade from U+I on an off-market basis, for an undisclosed sum. The parade is anchored by Asda – although the store was excluded from purchase – and comprises 32 shops, including Boots, Wilko, Poundland and Iceland, as well as planning permission for more than 250 residential units. 

Danny O’Keefe, of Evolve Estates, said: “This asset complements our existing portfolio and represents a robust cashflow with asset management opportunities for us to explore over the coming years. Even though the property investment sector has slowed down, we remain confident about the future of retail and are determined to deliver on our plan to increase the number of convenience/community-led centres within our ever-expanding portfolio. 

“The acquisition of the scheme marks a bold start for us this year and we aim to seal more deals for local district centres, convenience parades and precincts, as well as other opportunities, over the coming months. “We look forward to working with local stakeholders to ensure that Swanley Square becomes a best-in-class, convenience-led retail parade for the whole community.” 

Commercial property investment company LCP has been appointed to manage the centre for Evolve Estates, which is part of the LCP group of companies. 

Julian Diamond, LCP head of asset management, said: “As a Group company, we work closely with Evolve across its property portfolio. We take pride in our intensive asset management approach, so will proactively manage Swanley Square to attract new tenants that will not only enhance the retail offer for the local community, it will also improve footfall for all shops within the scheme.”

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Why Proximity Marketing is the Future of Customer Engagment for Retail

According to Coniq’s paper, geo-loyalty, the integration of proximity marketing, and customer loyalty programs are the future for retail destinations because they effectively engage consumers in-store AND online.

Ingka Centres enters the Indian market with its first IKEA anchored destination in Noida, India

Ingka Centres, part of the Ingka Group, (which also includes IKEA Retail and Ingka Investments), has taken its first step to expand into India with a major land acquisition in India.

DEICHMANN to open a new store in Colosseum Mall in Bucharest

Colosseum Mall signed with the German retailer DEICHMANN to open a 500 s qm store, as part of the current expansion plan of the commercial center. With a network of over 100 stores across Romania, DEICHMANN comes one step closer to the community of North-West Bucharest, in an area of ​​continous rising retail and residential segments.

People in move

Recruitments, promotions and appointments...

NEINVER reaches agreements with 98% of tenants across its European portfolio

In total, the company signed close to 1,500 leasing deals in 2020, including tenant rent negotiations, new leases and renewals. The resilience of the outlet industry is reflected by positive consumer demand whenever restrictions eased or lifted during 2020.

Cushman & Wakefield makes UK customer experience appointment

Cushman & Wakefield has appointed customer experience specialist Michelle Gloder as Head of Customer Experience within its UK Asset Services team.