Private investment manager, Signal Capital, supported by retail property and asset management specialist, Estama UK, has completed on the acquisition of the Thamesgate Shopping Centre, Gravesend.
Spanning 88,696 sq ft of retail, the scheme is situated in the town’s prime pedestrianised high street pitch with key convenience-led tenants including Wilko, Superdrug, Specsavers, and Lloyds Bank. The scheme also has a strong local business base.
This acquisition forms part of Signal Capital’s UK community retail investment strategy and is the eighth acquisition under this programme. Other centres acquired to date are Motherwell, Dunstable, Port Talbot, Redcar, Newmarket, Caerphilly, and Taunton.
David Roberts, CEO at Edinburgh House Estates and Estama UK commented: “Estama UK has had a strong first year building our managed portfolio to 14 shopping centres and high street assets, which we are continuing to grow. Identifying the right schemes to invest in involves in-depth strategic research, followed by close attention to the balance of tenants so that we can future-proof each scheme. We feel confident about the potential of Gravesend and look forward to managing it.”
Colman McCarthy, Partner, Signal Capital added: “Signal is delighted to continue our collaboration with Estama UK through the acquisition of the Thamesgate Shopping Centre in Gravesend. We have continued confidence in assets that remain relevant within the UK community retail space, and we plan to continue actively acquiring assets that meet this thesis.”