M Core has acquired the 99,000 sq ft Southwater Square leisure scheme in the heart of Telford town centre for an undisclosed price.
The scheme, which forms part of the wider Southwater regeneration, is anchored by national operators including Cineworld, Premier Inn, Nando’s and Bella Italia.
James Buchanan, group managing director at LCP, which is part of M Core, said: “Southwater Square presents exactly the kind of opportunity we look for, a well-located leisure destination with strong existing footfall and the ability to enhance performance through intensive management. We see real potential to curate the tenant mix further, working closely with occupiers and stakeholders to ensure the scheme continues to thrive as a central part of Telford’s offer.”
The asset will be managed by Toby Saggers, associate director at LCP UK. Osborne Clarke and Andrew McGregor of McGregor Wyn advised M Core on the deal. The vendor was represented by Savills and Knight Frank.
