M Core acquires Newton Hall in Durham
The purchase of the 56,000 sq ft mixed-use parade was part of a deal that also includes Queens House in Hull and Triangle Centre in Clevedon.
The 25-unit asset has both retail and residential, and includes beauty services, a convenience store, an estate agents, a florist, and leisure operators.
M Core indicated it will be looking to ‘refresh the tenant mix’ overtime, and has appointed Will Helm from LCP as asset manager.
The above transitions were completed legal firm Osborne Clarke on behalf of the landlord, who wishes to remain anonymous.
The company is looking to strengthen its UK regional presence with well-located, high-potential assets across regional towns and cities, and has also acquired Queens House in Hull, a prominent 147,000 sq ft building that sits in the main retail heart of the city, as part of the deal.
The final acquisition of the deal is The Triangle Centre which is a key part of Clevedon’s town centre in North Somerset, offering more than 59,000 sq ft of retail and office space and anchored by B&M, Boots, and Superdrug.
Both of those buildings will also be asset managed by LCP, which is part of the M Core group.
James Buchanan, group managing director at M Core, said: “These acquisitions set a positive tone for the year ahead.
“Queens House is a major city-centre asset with clear long-term potential, while Newton Hall and the Triangle Centre offers resilient neighbourhood retail in a well-established community.
“Both align with our approach of disciplined investment and intensive management, supporting local economies and delivering value over time.”
