The Village Square shopping precinct in Bramhall has been sold by Wain Estates to new owners, Sheet Anchor Commercial Property for an undisclosed sum.
The retail-led development was put up for sale by Wain Estates earlier this year, priced at £8.8 million. Despite being fully occupied following investment into customer facing areas since Wain Estates acquired the site 2011, the company has chosen to dispose of the asset to focus on its core strategic land development business. Wain Estates property director, Paul Wrigglesworth said:
“The Village Square is a hugely popular centre in the heart of Bramhall village. However, by selling now, it allows us to concentrate on Wain Estate’s core business of strategic land development and properties with value-add potential. We are pleased to hand over the reins to a respected operator like LCP.”
Under the new ownership of international property management company Sheet Anchor Commercial Property, the site will be managed by LCP Group.
Wain Estates has been advised by a team from national law firm, Freeths, on the sale, which comprised real estate partner Stephen Lewis, director Ciara Sweeney and managing associate Laura Owens. Stephen Lewis said:
“It has been a pleasure dealing with the Wain Estates’ team, who were quick to deal with matters and provided clear instructions when required.
“This enabled us to meet the tight deadline set down in the Heads of Terms and agree this major deal.”
CBRE advised the vendor and Jonathan Phillips of Metis Real Estate acted on behalf of the purchaser.
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