Evolve Estates has acquired the mixed-use retail and leisure Grays Brewery Quarter scheme in the heart of Chelmsford, Essex, for an undisclosed price.
The former 19th century brewery site comprises 36-38 High Street and 3-7 Grays Brewery Yard, offering six retail and leisure units and a serviced office. All of the units are occupied – except one – by tenants including McDonalds, Metro Bank, Nando’s and Zizzi. The serviced offices are operated by Patch.
Danny O’Keefe, founding partner of Evolve, said: “2022 was the busiest in our 13-year history for retail acquisitions and we are continuing the momentum in 2023, adding Grays Brewery Quarter to our growing portfolio. It sits in the heart of the bustling city centre, between the three main shopping centres and next to the former Debenhams, which is under redevelopment after being let to a major retailer.
“This is an exciting acquisition for Evolve, demonstrating how keen we are to invest in strong retail propositions, and we look forward to being part of the fabric of Chelmsford city centre.”
Prime Retail and Clifton Agency acted as agents for Evolve and its solicitor was Clarke Willmott. Green & Partners acted on behalf of the unnamed vendor.
