MGI Holdings has completed the off-market purchase of the Grants Entertainment Centre in Croydon, South London, from Federated Hermes for an undisclosed price.
The 160,840 sq ft property is situated in the heart of Croydon’s retail and leisure district and is home to occupiers including Vue and Nando’s. MGI Holdings intends to regenerate and reinvigorate the former department store site.
A spokesperson for MGI Holdings 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 advised MGI on the acquisition and has been appointed to handle the leasing with Blackstar RE acting as asset manager. BGP represented the vendor.
