A retail parade in the Black Country has been sold. Goold Estates has offloaded the £50 million St Matthew's Quarter scheme in Walsall to The Mercian Trust.
The property investment and development company has sold four self-contained retail units, in George Street, to the trust which runs a group of nine schools across Sandwell and Walsall.
Two of them, Walsall Studio School & Sixth and The Ladder School, are located in the St Matthew's Quarter.
The row of units will be converted into a new digital hub which will provide additional teaching accommodation and complement Walsall Studio School & Sixth's existing facilities at its campus opposite.
An additional three retail units in the same parade have been sold as tenanted investments to private investors at auction. The remaining 711 sq ft unit has been retained by Goold Estates and is currently let.
George Street lies at the southern end of Walsall High Street within the St Matthew's Quarter retail and leisure scheme.
The scheme was developed by a joint venture between Oldbury-based Goold Estates and Birmingham regeneration specialist St Modwen.
Among the work carried out there is an Asda supermarket, 41 new apartments at Shannon's View and the £2.7 million Goldmine building which is home to Walsall Studio School and Sixth, in Lower Hall Lane.
In addition, there is more than 70,000 sq ft of retail and leisure space, with existing occupiers including B&M and Poundland.
Goold Estates director Anthony Williams said the company was now considering redevelopment options for the remainder of the site, including its existing 1,000 space multi-storey car park.
"We are very pleased to have completed a deal with The Mercian Trust which facilitates the growth of its schools and its commitment to local people," he said.
"It's exciting to see continued investment in the area, following the £3 million refurbishment of Asda and the completion of the St Matthew's Campus.
"We're proud to have delivered the regeneration of the southern end of Walsall High Street, having worked in partnership with St Modwen for more than 20 years to develop St Matthew's Quarter into a vibrant retail destination. We are now focusing our attention on opportunities to further redevelop the site."
Dan Parkes, chief executive of The Mercian Trust, added: "By working with Goold Estates, we have been able to secure an ideal town centre location for our digital hub.
"Digital skills are more important than ever and this hub will provide our students and our wider community with a fantastic and much-needed facility in which to develop the skills required for a digitally-first world."
Burley Browne acted on behalf of Goold Estates and the three other properties sold by Bond Wolfe at auction.
