The company has acquired the popular 595,000sq ft retail destination, The Bridges Shopping Centre, in Sunderland.
Joe O’Keefe, Co-Founder at Evolve Estates, said: “The acquisition of The Bridges Shopping Centre reflects our commitment to investing in retail assets that have a high-potential to unlock through investment, experience and hard work. The Bridges is a great example of an asset that is performing satisfactorily as it stands, but could really improve and transition into new retail and leisure areas, occupiers and operations. We have had dialogue with the Local Authority who are promisingly pragmatic and we are very much looking forward to working with stakeholders to really move The Bridges forward.”
The shopping centre dominates the city’s retail offering with almost 100 units differing in size. Anchored by Primark, Next and TK Maxx, the high footfall centre comprises the majority of Sunderland’s retail floorspace and includes a 938-space car park.
Marked by significant portfolio growth and a very successful first half of 2024, Evolve Estates has continued its lucrative attainment rate with this latest acquisition, as part of its proactive purchasing drive of shopping parades, centres and retail parks across the country.
