Signal Capital completes the purchase of the Thamesgate Shopping Centre, Gravesend
Private investment manager, Signal Capital, supported by retail property and asset management specialist, ESTAMA UK, has completed on the acquisition of the Thamesgate Shopping Centre, in the historic riverside town of Gravesend.
With 88,696 sq ft of primary retailing provision, the scheme is situated in the town’s prime pedestrianised high street pitch with key convenience-led tenants including Wilko, Superdrug, Specsavers, and Lloyds Bank. The scheme also has a strong local business base which fits in well with ESTAMA UK’s managed portfolio whereby it is focussed on serving and engaging with the communities in which it operates.
This acquisition forms part of Signal Capital’s UK community retail investment strategy and is the 8th acquisition under this programme. Other centres acquired to date are Motherwell, Dunstable, Port Talbot, Redcar, Newmarket, Caerphilly, and Taunton.
Gravesend is an increasingly popular commuter town in Kent with strong transport links. The scheme’s southern entrance is a moment’s walk from the entrance to Gravesend rail station, connecting the town to central London in just 22 minutes, underpinning the convenience focus.
David Roberts, CEO at Edinburgh House Estates and ESTAMA UK commented:
“ESTAMA UK has had a strong first year building our managed portfolio to 14 shopping centres and high street assets, which we are continuing to grow. Identifying the right schemes to invest in involves in-depth strategic research, followed by close attention to the balance of tenants so that we can future-proof each scheme. We feel confident about the potential of Gravesend and look forward to managing it.”
Colman McCarthy, Partner, Signal Capital added:
“Signal is delighted to continue our collaboration with ESTAMA UK through the acquisition of the Thamesgate Shopping Centre in Gravesend. We have continued confidence in assets that remain relevant within the UK community retail space, and we plan to continue actively acquiring assets that meet this thesis.”
