The Ardent Companies has completed the takeover of Touchwood shopping centre in Solihull, West Midlands from Lendlease Retail Partnership.
The new owner is set to improve its appeal and shopping environment by “driving a raft of new initiatives… focused on attracting the latest retail and leisure concepts to the centre”. It also noted it has already been “inheriting significant demand for space from potential new occupiers”.
Meanwhile, the real estate investment firm also said it’s looking to add more centres to its fledgling UK portfolio. Having acquired 1.4 million square feet of industrial space from M7 Real Estate in March for development, it’s now “actively seeking opportunities” to acquire and reposition high-performing assets across other UK property sectors, and to work with best-in-class asset managers to grow the value of its investments”.
Matt Shulman, CEO at The Ardent Companies, said: “Touchwood is an exceptional shopping centre and completing the acquisition marks a new milestone for our UK investment platform, which we are excited to grow further in alignment with our strategies and objectives in the US.”
Andrew Hilston, Managing Director at Ardent UK, added: “Touchwood’s exceptional location and strong tenant line-up were important factors in our decision to invest – underpinned by its emergence as the only John Lewis anchored centre in the region.”
