Modus Corovest has bought Birchwood shopping centre in Warrington from Legal & General for £50.15m
The joint venture between Manchester-based modus Properties and Corovest plans to work with Warrington Borough Council on a redevelopment of the scheme, which is anchored by a 108,814 sq ft (10,109 sq m) ASDA supermarket.
Detailed plans will be drawn up in the next three months and a new anchor will form part of the plans for the scheme.
Peter Macfarlane, director of investments at Modus, said: ‘This is a fantastic scheme with a terrific existing tenant line-up, and we only hope to further improve and enhance the shoppers experience through our expertise.’
Tushingham Moore acted for Modus Corovest. Tushingham Moore and Colliers CRE are the lettings agents.