M Core has acquired Chelmsley Wood shopping centre in Solihull for an undisclosed price. The 461,012 sq ft centre, which is anchored by an Asda superstore and counts the likes of Iceland, Poundland and Boots as tenants, generates annual footfall of 7.5 million.
The site also includes a library, community housing offices and an advice centre, plus a multi-storey car and surface car park for 583 vehicles.
Danny O’Keefe, founding partner of Evolve Estates, which is part of M Core, said: “This is a superb acquisition that I’m pleased to introduce into our joint venture with LCP. Chelmsley Wood Shopping Centre is the main convenience shopping offer in the community and is surrounded by homes. As we continue our acquisition drive, retail centres such as this form a central role as we seek to invest and improve the sites for local shoppers and wider communities.
“The experienced asset management team is already speaking to a number of interested businesses that can see the attraction of opening a store in Chelmsley Wood and we hope to make announcements of new tenants soon that will really improve the scheme. We are also looking forward to creating some homes that will meet local requirements.”
Rob Ellis, asset manager of LCP, also part of M Core, has been appointed to manage the centre. The agent for M Core was Prime Retail and the solicitor was Clarke Willmott LLP. KLM Real Estate acted for the vendor.
