Searchable

Shoreham-by-Sea

featured_image

imperial-arcade

imperial arcade

<a href="https://completelyretail.co.uk/shops-to-rent/brighton">Brighton's</a> historic <a href="https://completelyretail.co.uk/scheme/imperial-arcade-brighton-2216">Imperial Arcade</a> has been acquired by local property investor and developer Moretons Investments.



The asset – which dates back to 1923&nbsp;– is a short walk from the seafront and located in close proximity to <a href="https://completelyretail.co.uk/scheme/churchill-square-brighton-3909">Churchill Square Shopping Centre.</a>



Moretons Investments said it is eager to revitalise Imperial Arcade, which has experienced a decline over the last few years. The group will be collaborate with local architects, planners, the council, and other professionals in an effort to transform the asset.



Michael Blencowe, director of Moretons Investments, said: “Moretons Investments are thrilled to embark on this journey and excited about the positive impact it will have on consumers and residents alike.&nbsp;We aim to breathe&nbsp;new life into the Imperial Arcade, making it an exciting venue for the entire community to enjoy once again.



"While plans are still in the early stages, Moretons' vision includes creating a vibrant commercial space within the Arcade itself, complemented by luxurious residential accommodations, maximising the location's potential.”

New owner looks to breathe life into Brighton's historic Imperial Arcade

screenshot-2024-01-29-at-17-07-16

Screenshot 2024-01-29 at 17.07.16

A city centre property in <a href="https://completelyretail.co.uk/shops-to-rent/brighton">Brighton</a> has been sold to an Indian café operator for £1.45m.



The vacant property at 142 Western Road has been sold by Flude Property Consultants on behalf of a London-based client to Chaiiwala.



The upper part of the property comprises high-end two bed flats, and were sold with tenants in place.



Flude Director, Will Thomas, commented, “This is the latest of a number of transactions we have conducted along this part of Western Road. Its proving to be a popular location with both buyers and tenants and sees a great deal of footfall. The sale was quickly agreed after coming to the market and sold for an undisclosed sum of a guide price of £1.45m, with a combined passing rent of £94,000 per annum.”

Freehold Brighton city centre café property sold for £1.45m

churchill-square

churchill square

The owner of Ikea has acquired <a href="https://completelyretail.co.uk/scheme/churchill-square-brighton-3909">Churchill Square</a> shopping centre, the largest shopping destination in <a href="https://completelyretail.co.uk/shops-to-rent/brighton">Brighton</a>.



Churchill Square shopping centre is located in walking distance of Brighton Seafront and benefits from nearby bus routes and cycle lanes. It is home to retail tenants including Inditex, Apple, Next, H&amp;M, Urban Outfitters, and Levi's, as well as food and drink operators such as McDonald's, Krispy Kreme, and Ed's Easy Diner.



Ingka Centres will look to make a number of developments to the scheme, including improvements to its energy efficiency to bring the centre up to BREEAM 'Excellent' standards.



The group has also acquired Chartwell Court, a nearby residential tower block, two attached car parks, and the leasehold on a third car park site. Ingka intends to extend the number of EV charging points at these sites.



Following its acquisition of the scheme's freehold, Ingka Centres has also announced plans to bring an Ikea City store to the destination.



The new Ikea store will open in the site of the former Debenhams store and will be the brand's third city store in the UK, along with sites in <a href="https://completelyretail.co.uk/shops-to-rent/london">London's</a> Hammersmith and Oxford Street.



Cindy Andersen, Ingka Centres’ managing director, said:&nbsp;“Brighton is known as a welcoming and progressive city, so it is a real privilege to take up responsibility for delivering a revitalised meeting place of which the many people can be truly proud. We are excited to strengthen our portfolio with a well-established shopping destination in the heart of the vibrant and growing city of Brighton and Hove. It fits perfectly into our global expansion strategy, allowing us to transform a traditional retail space to a meeting place that is much more than just a place to shop.



"We’ve proven in Hammersmith that traditional shopping centres have a strong future when they are adapted and constantly evolving to match the real needs of local communities. We’ll be working alongside our partners such as IKEA and the wider community to make everyday life better for the many people of Brighton, shaping and delivering an affordable, sustainable range of destination retail, restaurants, services and amenities.”

Ikea owner snaps up Brighton shopping centre

No results found

Locations within 5 miles of Shoreham-by-Sea

Locations within 10 miles of Shoreham-by-Sea

Locations within 20 miles of Shoreham-by-Sea

Locations within 30 miles of Shoreham-by-Sea