Boultbee and Aurum Real Estate have bought St Georges Place in Canterbury, Kent from retailer Aldi for £10.5m.
Aldi is vacating the 55,000 sq ft property and fund manager Clavis Walden Investments has secured vacant space elsewhere to create a supermarket. Waitrose has agreed to trade from 25,000 sq ft on a 20-year lease, subject to planning.
The letting to Waitrose forms part of the regeneration of St Georges Road, which also includes a 234-bedroom student accommodation block on behalf of Christchurch Canterbury University.
Iain Keys of Clavis Walden Investments, which advised Boultbee and Aurum on its purchase, said: “This project will deliver not only excellent returns but will also significantly enhance the vicinity and satisfy the needs of one of the country’s leading retailers.”
Clive Boultbee Brooks, managing director of Boultbee, added: “This project reflects our desire to build a £250m portfolio of quality retail and industrial assets in the UK and to create value with partners who can deliver a business plan.”
Cradick Retail advised Aldi.
annabel.dixon@estatesgazette.com
