Gosforth Central

Project overview

Monument led the off-market acquisition of this retail shopping centre in a Newcastle upon Tyne suburb 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. The centre is anchored by a Sainsburys supermarket and comprises over 25 retail units occupied by a mix of tenants across a variety of uses. National tenants comprise Lloyds Bank, Boots and Costa whilst local tenants include Julie's Flowers, Pure Knead Bakery and Passion 4 Fruit.

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.

Community engagement has increased with monthly craft markets, sponsorship of events for a local hospice charity and seasonal decorations from local schools. The centre is also leading the fundraising for a refurbished playground and basketball court in the adjacent public park with events such as an outdoor cinema and outdoor theatre.