Evolve Estates snaps up Sunderland shopping centre

Evolve Estates, part of commercial property and investment collective M Core, has acquired The Bridges Shopping Centre in Sunderland.

Spanning 595,000 sq ft, the shopping centre is home to almost 100 units and is anchored by Primark, Next, and Tk Maxx.

The scheme is also supplemented by a 938-space car park.

Evolve Estates purchased the centre as part of its ongoing acquisition drive which has seen it purchase shopping centres, parades, and retail parks in different parts of the country.

Joe O’Keefe, co-founder at Evolve Estates said: “The acquisition of The Bridges Shopping Centre reflects our commitment to investing in high-potential retail assets.

“We see significant potential in The Bridges and look forward to working with stakeholders to further diversifying the tenant mix.”

JLL, Cited Property, and Montagu Evans acted for Evolve Estates. JLL represented the vendor.

This year alone, M Core has acquired has acquired Billingham town centre in County Durham, the Princes Square retail development in Glasgow, a food-anchored convenience centre in Uttoxeter, Staffordshire, and Westhill District Centre, near Aberdeen.