Evolve Estates acquires new retail park in Stafford

Evolve Estates, part of M Core, has acquired Madford Retail Park in Stafford as part of the continued strategic focus on retail parks. Madford Retail Park offers 76,095 sq ft of retail space and 8,909 sq ft of office accommodation across ground, first and second floors. The scheme is fully let with strong covenants including, Wickes, DSG (Currys), Lidl, Jollyes (Pen Parc) and a number of local occupiers. Evolve Estates acquired the mixed-use asset for an undisclosed sum as part of its proactive acquisition drive in shopping parades, centres and retail parks across the country. Joe O’keefe, Co-Founder at Evolve Estates said: “Madford retail park is yet another asset aligned with the company’s growth plans and a great addition to our midland’s portfolio. As we continue to strategically focus on targeting convenience led, parks, centres, offices and parades. This acquisition maintains our commitment to supporting local communities throughout the whole of the UK.” Evolve were represented by Suzie Lisle of CBRE and Andrew Cooper at Clarke Willmott. This announcement follows the last retail park acquisition of Parc-Y-Lyn, Aberystwyth by Evolve Estates, part of M Core. M Core has invested more than £275 million in the past 12 months across UK commercial real estate, with notable acquisitions such as The Centre, Livingston, Cwmbran Centre, The Galleries in Washington, Sunderland, and Three Spires in Lichfield. Armed with £500 million for investments ranging from £2 million to £250 million, M Core actively seeks new sites for acquisition.