Evolve Estates has acquired a 320,000 sq ft open-air retail scheme in Billingham town centre, County Durham, for an undisclosed price.
The scheme has more than 90 retail units and 673 car park spaces and is anchored by Asda, B&M and Aldi.
There are currently 10 vacant units at the scheme and Evolve said its team of asset managers is already in discussions with national brands and local traders about taking the space.
Danny O’Keefe, founding partner at Evolve Estates, which is part of M Core, said: “Billingham shopping centre is a community focal point, aligning perfectly with our mission to enhance these essential retail hubs for the benefit of local residents and visitors.”
Clarke Wilmott and Cited Property acted for Evolve and Four & Co and Pinsent Masons acted for the vendor.
