MGI Holdings acquires Croydon leisure block
MGI Holdings has completed the off-market acquisition of Grants Entertainment Centre in Croydon, South London.
The 160,840 sq ft property, situated within Croydon’s main retail and leisure district, is home to occupiers such as Vue, Tokia Square, Nando’s, and Nuffield Health.
MGI Holdings said it is planning to embark on an ambitious regeneration of the site to reinvigorate its offering and reinforce Croydon’s position as one of London’s most dynamic urban centres.
A spokesperson for the property investment company said: “We are very excited to undertake the regeneration of the Grants Entertainment Centre.
“The Grants Centre is a listed former department store steeped in history and now has an exciting chapter ahead. We are looking forward to creating a new leisure hub in the heart of one of London’s fastest growing suburbs.”
GCW, which advised MGI Holdings on the transaction, has been appointed to handle the leasing at Grants Entertainment Centre, with Blackstar Real Estate acting as asset manager. BGP represented the vendor in the transaction.
This comes a month after MGI Holdings acquired a multi-let retail parade in Leicester city centre for £7.75m.