Following St Modwen’s purchase of Tesco’s entire holdings in Kirkby town centre for £35.8m last week, Colliers International has been instructed by the new owners to advise on the on-going development and enhancement of the asset, which will see the town centre transformed by a multimillion pound retail-led regeneration scheme.
St Modwen’s acquisition includes 400,000 sq ft of retail and leisure space, which is currently leased to 80 tenants including New Look and Home Bargains. Working alongside Knowsley Metropolitan Borough Council, St Modwen plans to develop and expand the existing offer in the town centre, as well as securing the provision of a significant new housing scheme on a 65 acre site close to the town centre.
Colliers International has a long standing track record of working with St Modwen on projects such as this and is instructed on a number of schemes across the UK currently being developed by the regeneration company, including; Billingham town centre in the North East, Wythenshawe town centre in Greater Manchester and the Great Homer Street development in Liverpool.
On the instruction, Greg Styles, Director at Colliers International in Leeds, said: “We are pleased to have been able to work with St Modwen once again on this strategic acquisition which will see them use their expertise to add value to the town through income producing assets. This deal represents a significant investment for Kirkby, and St Modwen certainly has the track record and experience to deliver. We look forward to working with the project team to bring St Modwen and its development partner’s vision for Kirkby to fruition.”
