Capital Shopping Centres has bought a 17-acre site next to the Metrocentre shopping centre in Gateshead for £2.8m.
It bought the old Federation Brewery site from Heineken and is understood to be considering an extension at the 2.1m sq ft mall.
The old brewery site comprises nine buildings, including office and warehousing space, and the Lancastrian Suite, which is let to Ramside Estates until April 2016.
CSC asset management director Martin Breeden said: “We believe that the former brewery provides a really exciting opportunity to enhance the overall setting and attraction of Metrocentre.
“It’s too early to provide any detail at this time about potential plans for the site, but we will hopefully be in a position for further discussion shortly.”
CSC is targeting available land next to all of its shopping centres to allow for future expansion. It is currently extending its Lakeside shopping mall and its Braehead centre.
Gavin Black & Partners marketed the Gateshead site.
simon.binns@estates.gazette.com
