Templars Square Shopping Center. Credit: Newriver

Redevco acquires 1960s Templars Square shopping center for €42.5 million

On behalf of one of its investor clients, Redevco has purchased Templars Square in Oxford for €42.5 million from New River. The 1960s local shopping centre is to be transformed into a landmark residential-led mixed urban scheme over the next decade.

Tom Hoye, Transaction Director at Redevco United Kingdom, said: “We plan to take a much-loved, but dated, retail asset and transform it into a thriving urban destination which will continue to draw in the local community.” 

Templars Square, which lies 4 kms south-east of Oxford’s city center, is a covered mall-based shopping center with some open-air and street-facing retail units, two car parks (Knights and Barns Road) and upper-floor offices. The 36,500 sq m site is broadly located between Cowley’s Towns Road to the north and Hockmore Street to the south. The asset is part freehold, with the majority owned as long-leasehold for a period of close to 200 years. 

Oxford is attractive as it is one of the UK’s pre-eminent university cities and at the forefront of the growing life sciences industry. With a population of over 150,000 inhabitants the city is faced with a significant housing shortage. 

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