Sheet Anchor Evolve, part of M Core, one of the UK’s largest privately held property investment and management collectives and busiest buyers of shopping centres, has acquired Vicar Lane in Chesterfield, CoStar News can reveal.
The price paid has not been disclosed but is thought to be around £10 million.
M Core said the strategic acquisition reinforces its commitment to investing in convenience-led retail and "delivering long-term value through intensive asset and property management". The 202,000-square-foot scheme comprises 34 units and a 400-space car park, with a mix of fashion, food and essential services retailers.
Tenants include JD Sports, H&M, Superdrug, Iceland, River Island and The Works. The scheme also includes civic space at St James’ Square with a 12m LED screen, and is adjacent to several major regeneration projects including the Chesterfield Waterside scheme and what would have been the HS2 station.
Danny O’Keefe, founding partner at Sheet Anchor Evolve, said in a statement: “Vicar Lane is a well-positioned retail destination in a town with ambition and momentum. As a long-term investor, our strength lies in our ability to invest in places, work closely with tenants and local stakeholders, and use our in-house expertise to unlock value. This is exactly the type of asset we can evolve through intensive management – enhancing its relevance to the community and supporting its role in Chesterfield’s wider regeneration.”
Cited and GCW acted for Sheet Anchor Evolve and Time Retail Partners acted for the vendor.
M Core is an established family of property investment and management companies that includes LCP, Sheet Anchor, Proudreed and Sheet Anchor Evolve.
Established in 1987 the collective of businesses has a £6 billion portfolio of assets and employs approximately 500 people across Europe. Long term investors have over 1,250 assets managed across the UK, France, Poland, Romania, Germany, and Spain.
Portfolio includes retail, retail parks, business parks, logistics, residential and offices.