Property developer Robert Hitchins has sold Twigworth shopping centre near Gloucester to a private investor for just over £1.9 million.
The 8,780 sq ft centre has been developed by the Gloucestershire firm since 2021, as part of a mixed-use development, which includes more than 725 new homes at Twigworth Green.
Built by EG Carter on a three-quarters-of-an-acre site alongside the A38, the centre includes 35 car spaces and five retail units which are currently fully let.
Shops include a 4,000 sq ft Midcounties Co-Operative anchor store and a branch of Gloucester cafe chain, Janes Pantry.
Asset manager for Robert Hitchins, Henry Squier, said: 'We’re pleased to have delivered such a successful district centre to Twigworth at what could have been a difficult time during Covid.
'We were nevertheless able to bring a major national convenience retailer to the local area, as well as the hugely popular Janes Pantry.
'More recently, the addition of three independent retailers has further enhanced the centre, broadening the range of amenities available.
'Not only does the centre provide much-needed facilities for the residents of Twigworth, it also offers a great service for commuters on the A38.'
Bristol agents ARC Retail & Leisure, handled the sale. Director, Andy Smallman, said: 'The successful leasing campaign delivered a fully-let well-balanced mix of occupiers which meets the needs of the local community.
'The subsequent investment sale generated a good level of interest with multiple offers, showing that there remains a strong demand for high-quality prominent roadside retail assets with a good tenant mix and dedicated parking.'
Robert Hitchins has
developed, or owns, more than three-million-square-feet of commercial property and
has recently developed the first phase of Cotswolds Designer Outlet at J9 of
the M5 motorway in Gloucestershire.
