The asset benefits from a 602-space multi-storey car park directly adjacent to the site and excellent connectivity, being easily accessible from Junction 5 of the M54. Southwater Square is a key component of the town centre’s leisure and retail offer, attracting high footfall and providing a mix of dining, leisure and hospitality uses.
James Buchanan, Group Managing Director at LCP, part of M Core, said:
“Southwater Square presents exactly the kind of opportunity we look for, a well-located leisure destination with strong existing footfall and the ability to enhance performance through intensive management. We see real potential to curate the tenant mix further, working closely with occupiers and stakeholders to ensure the scheme continues to thrive as a central part of Telford’s offer.”
The asset will be managed by Toby Saggers, Associate Director at LCP UK, part of M Core. Advising M Core on the acquisition were Catherine Gunz of Osborne Clarke and Andrew McGregor of McGregor Wyn Ltd on behalf of Sheet Anchor, part of M Core.
The vendor was represented by James Hurst at Savills and Dan Serfontein at Knight Frank.
