Evolve Estates elevates retail presence with strategic acquisition in North East

A valuable addition to its expanding retail portfolio, the 29,730 sq m open-air retail scheme stands out as a dominant shopping destination in the region, with anchor tenants such as Asda, B&M, and Aldi.

Billingham, a thriving town with a residential population of 80,000, is close to Middlesbrough and Stockton-on-Tees, making it a strategic investment for Evolve Estates. With more than 90 retail units and 673 car park spaces, the town centre attracts a footfall of about 70,000 per week.

“Billingham shopping centre is a community focal point, aligning perfectly with our mission to enhance these essential retail hubs for the benefit of local residents and visitors,” says Danny O’Keefe, founding partner at Evolve Estates.

O’Keefe further emphasised the potential for improvement, citing the current availability of 10 vacant units.

Evolve Estates’ team of asset managers is already in talks with both national brands and local traders that are eager to elevate their businesses. Ongoing collaborations with existing tenants, stakeholders, and Stockton-on-Tees Borough Council reinforce the commitment to seamless management and future development aspirations, added O’Keefe.