Evolve Estates acquires Leicester open-air shopping centre
Evolve Estates, part of commercial property and investment company M Core, has acquired the Beaumont Leys community shopping centre in Leicester.
Sitting on a 10-acre site, the scheme is the area’s dominant local retail offering, serving a local catchment of 670,000.
The acquisition was completed as part of a joint venture with M Core.
Beaumont Leys is anchored by Tesco Extra and Aldi, with key tenants including B&M, McDonald’s, Poundland, and Boots. The shopping centre has three car parks, which provide 1500 free car parking spaces and 12 EV charging points.
The shopping centre has benefitted from recent investment, including the development of a drive-through unit for Starbucks, and B&M’s commitment to the former Wilko unit on a 10-year lease.
Sebastian Mcdonald-Hall, partner at Evolve Estates, said: “The shopping centre is perfectly positioned for the local community; Beaumont Leys is a key district within Leicester and is home to several attractions that contribute to its vibrant life.
“Beaumont Leys is experiencing significant investment and residential development, and the area is a focal point for new housing projects that serve the wider Leicester area.
“Our team will build on the success, ensuring the asset continues to serve the local community with a variety of tenants that meet demand.”
The deal was brokered by Evolve on behalf of the purchaser L&C Investments Ltd.
Savills and Cited Property acted for Evolve, whilst Knight Frank and Lewis & Partners acted for the vendor.