Project overview
Led the off-market acquisition of Gosforth Central on behalf of a consortium of private equity investors in October 2022.
Project detail
Gosforth Central, extending to 74,000 sq. ft. and including a car park on the second floor, is prominently positioned in a popular suburb of Newcastle upon Tyne. The centre comprises over 20 retail units are all currently occupied, with key tenants being Sainsbury’s, Lloyds Bank, Boots and WHSmith.
The focus of the business plan is to position the centre closer to its community and local demographic, following a detailed place-making exercise undertaken shortly after acquisition. A new brand for the centre, now called Gosforth Central, is at the forefront of the asset management plans to drive footfall. Vacant units have been re-purposed for new tenants, new car parking structure was introduced to make parking easier and a new toilet block has been created.
Fundraising events have been introduced, such as outdoor cinema and outdoor theatre, are now undertaken in the adjacent park to raise funds for a new playground and other similar projects.
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