Swindon & Wiltshire News
Chippenham’s Borough Parade acquired by property and investment firm
National commercial property and investment company Evolve Estates has acquired the 82,000 sq ft Borough Parade in Chippenham from U+I Group for an undisclosed sum.
The outdoor shopping parade has 27 retail units and is anchored by Waitrose. Tenants include New Look, Caffè Nero, and JD Wetherspoons.
The latest acquisition means the company is projected to have invested £45 million by the end of H1 2022.
Danny O’Keefe of Evolve Estates, said: “We have made a string of strategic acquisitions this year and are committed to continue investing in community retail centres and parades where we believe we can add significant value to.
“Chippenham’s Borough Parade is a thriving community centre where independent boutiques and restaurants nestle among some well-known national names.
“Our asset management team is already investigating ways of attracting tenants to the available units and we hope to make announcements in the near future.
“Retail remains a great sector to invest in and we are excited to take Borough Parade into our growing portfolio.”
Evolve has a UK-wide portfolio value in excess of £300 million and this acquisition is the latest in a line of retail purchases in recent months.
In the past quarter alone, it has acquired multiple assets throughout the UK, boosting its portfolio in the key area of convenience parades and local centres.
Clarke Willmott completed the transaction for Evolve and U+I Group plc’s solicitor was Osborne Clarke.
