Norwich’s Castle Quarter changes hands
Castle Quarter in Norwich has been sold to private clients of asset manager Maritime Capital.
The 370,000 sq ft scheme opened in 1993 as Castle Mall, Norwich’s first indoor shopping mall. It was rebranded in 2019 to Castle Quarter and has since transitioned from a traditional shopping centre to a hub for social, leisure, and lifestyle uses alongside retail. The scheme currently has a 50/50 split between retail and leisure tenants.
Maritime Capital is an independent, family-owned asset management business based in Richmond. Founded by Toby and Max Hunter in 2013, the business has since transacted over £1.5 billion in property investments.
Max Hunter, head of asset management at Maritime Capital, said: “We chose to purchase Castle Quarter because it has so much potential.
“We were very impressed by the transformation that the centre has undertaken over the past five or so years, moving from traditional shopping centre with a leisure element, to now being a vibrant and growing social, leisure and lifestyle destination. But there is still so much to be done to ensure that Castle Quarter is the first place people think about when planning a daytime trip into Norwich or an evening out.
“We already have an exciting retail mix, with everyone from well-known high street brands such as Boots, TXMaxx and Trespass, to specialist independent stores like Itaewon Korean Supermarket, Ernie’s Zero Waste and Keiko.
“And our leisure and entertainment offering is fantastic, with Escape Hunt, Vue Cinema, Hot Pod Yoga, Drive Lounge, ArrowHeadz, and many more, all under one roof. Our plan is to bring in even more entertainment brands to cement Castle Quarter’s position as the number one leisure venue in Norfolk.”
Although the acquisition price was not disclosed, the shopping centre had been placed on the market in 2024 with an asking price of £23.55m.