Jarrow’s Viking shopping centre acquired in new deal with Evolve Estates

The Viking Centre in Jarrow has been acquired by a company specialising in high street investment

Jarrow’s Viking shopping centre has been acquired in a lucrative new deal which will see the property come under Evolve Estates’ ownership.

With more than 60 stores inside and over 175,000ft of retail space, the centre, which includes the likes of Boots, Poundland and Peacocks, is now under new management.

Danny O’Keefe says the acquisitive company is focusing its plans to grow out the retail sector, targetting shopping centres and malls across the country. The Evolve Estates founding partner says they want to support local businesses with the new deal.

He said: “This deal marks Evolve Estates’ expansion into the North East market and demonstrates our commitment to supporting local communities and businesses.”

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“We have long maintained that the retail sector is a strong market for investing, providing excellent opportunities for us to add significant value that benefit the tenants and the local community, as well as ensuring a good return on our investment.

“We’ve a significant pipeline of retail acquisitions for the rest of 2023 and expect to complete more than £300 million worth by the end of the year. Part of our strength is our healthy cash reserves, which mean we can complete a deal quickly when we need to.”

M Core, of which Evolve Estates is apart of, has spent £160million over the last 12 months, investing in 25 retail centres across the country, including Wheavers Wharf in Kidderminster and Central 12 in Southport.