The Orchard Shopping Centre in Taunton, Somerset has been acquired for an undisclosed fee.
Private investment manager, Signal Capital, supported by retail property and asset management specialist ESTAMA UK, has purchased the 150,000 sq ft mall from Patrizia Property Investment Managers.
High street chains including New Look, Waterstones, Superdrug, and The Entertainer are among the tenants of the retail scheme, situated on Paul Street.
The deal marks London-based Signal Capital’s seventh acquisition as part of a retail investment strategy which has seen it buy up centuries including the Quadrant Centre in Dunstable, the Aberafan Centre in Port Talbot and Regent Walk in Redcar.
ESTAMA UK, born out of the Edinburgh House Estates investment business, will act as asset manager of The Orchard Shopping Centre, and said it would focus on its “continued growth.”
The group added the property would “sit well” in its managed portfolio of 14 shopping centres and high street properties. Its recent projects include attracting Starbucks and Greggs to the Fleet Walk Shopping Centre in Torquay, before it was bought by Torbay Council in 2019.
David Roberts, chief executive at Edinburgh House Estates and ESTAMA UK, said: “ESTAMA UK has had a strong first year as an independent property and asset management specialist and we plan to maintain this momentum with the continued growth of our portfolio.
“Investing in new schemes is a priority, finding the right balance of tenants and serving the needs of the local community whether that be through leisure experiences or convenience shopping.”
Signal Capital partner Colman McCarthy, added: “Signal is delighted to continue our collaboration with ESTAMA UK through the acquisition of the Orchard Shopping Centre in Taunton.
"We continue to believe in the attractiveness of the UK community retail market, and we are actively pursuing further investment opportunities in this space.”
Montagu Evans advised Signal and ESTAMA UK on the deal while KLM advised Patrizia.
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