Sorbon Estates (www.sorbonestates.com) the Beaconsfield-based commercial property investment arm of the Shanly Group, has purchased the St. Martin’s Centre in Caversham, Reading.
The centre occupies a prime location on Church Street in the heart of Caversham and is home to leading retailers including Waitrose as well as a variety of specialist independent businesses.
Hicks Baker acted for the previous owners, Hermes, for almost 15 years and are delighted to continue acting for Sorbon Estates, although at present, the ground floor retail units are 100% let – which is testament to the overall success of this thriving centre.
Most recent newcomers to the scheme include Spill Bar (www.spillbar.co.uk)
which opened at the beginning of December; Eye Club(www.eye-club.co.uk) who are currently fitting out and BKRY (www.bkry.co.uk) who opened their doors in the summer.
The centre also boats a thriving artisan market every Sunday (www.artisanuprising.co.uk)
Sorbon Estates’ acquisition of St. Martin’s Centre reflects the company’s commitment to investing in a diverse range of investment opportunities within affluent towns and Cities within the South of England, including retail centres, industrial, open storage, nurseries and marinas.
Mark Allaway from Sorbon Estates commented:
‘We’re delighted with our acquisition of the St. Martin’s Centre, which offers great potential for us to enhance the retail and leisure offering for the benefit of both tenants and the local community. It’s very well located, and we look forward to ensuring that the centre remains a vibrant destination where businesses can thrive and consumers can enjoy an exceptional shopping and lifestyle experience.’
Fiona Brownfoot, Director of Retail & Leisure at Hicks Baker commented:
‘We have loved being involved with this retail centre since 2010, and the refurbishment of the scheme in 2016 was pivotal in its subsequent success, and contributed to it being 100% let this year. It is a great example of how a formerly unattractive 1960’s shopping precinct can be transformed with substantial reinvestment by the landlord.
We are delighted that Sorbon Estates, a local property investment company, are now the custodians of this vibrant retail and leisure scheme.’
Fiona Brownfoot MRICS
Director – Retail & Leisure
Hicks Baker
0118 955 7083
