Ardent acquires Touchwood shopping centre (GB)

Ardent acquires Touchwood shopping centre (GB)

The Ardent Companies has exchanged on a deal to acquire Touchwood shopping centre in Solihull from Lendlease Retail Partnership (LLRP). Touchwood shopping centre is Solihull’s primary retail pitch, attracting an annual footfall of 13 million. The deal will see Ardent acquire 650,000ft² of high-quality retail, restaurant and leisure space anchored by the only John Lewis store in the region, and including the town’s sought-after Crescent Arcade. Tenancies at Touchwood also include well-established brands, such as Apple, H&M, ZaraNext and a Cineworld cinema.

 

Touchwood benefits from one the wealthiest catchments in the West Midlands with a total population of 2.95 million and €9.2bn (£7.9bn) in annual comparison goods spend. The catchment extends to a wide geographical area due to the centre’s nearby transport links, with Solihull station located a 5-minute walk from Touchwood, providing direct services to London Marylebone, Birmingham New Street and Birmingham International, and high-speed rail links across the UK. Solihull is also proposed to be one of the key beneficiaries of HS2, reducing the journey time to London Euston to 38 minutes. The Solihull Town Centre Masterplan sets out ambitious plans to capitalise on the thriving local economy, all of which will benefit Touchwood.

 

Matt Shulman, CEO at The Ardent Companies, commented: “Touchwood is in a particularly strong location and already has an impressive retail and leisure line up. The opportunity to work closely with top brands, Solihull Council and the community at an exciting time for the wider area was an important part of our decision to invest. We’re looking forward to bringing our expertise and experience to the table to continue improving the retail environment at Touchwood.”

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