UK & European Investments has completed a deal to buy the Town Square shopping centre in Stratford-upon-Avon from London & Regional Properties.
The multinational investor intends to pursue a £30m Mountford Pigott-designed redevelopment of the centre to create a shopping and leisure complex. It is already in talks with a cinema operator to anchor the scheme, which will also include restaurants and 50,000 sq ft of shops.
London & Regional secured planning for the redevelopment in early 2012.
UK & European chief executive Barnaby Kelham said: “Stratford will be a major redevelopment that will help revitalise the area, bringing about 30 new shops, restaurants and leisure facilities.”
The group also announced this week that it had completed a sale of Templeback in Bristol (pictured), a partially let office development it completed in 2009.
Benson Elliot has bought the 122,000 sq ft block, where 78,000 sq ft remains vacant.
No price was disclosed, but local agents said a fully let Templeback would fetch about £60m.
