Robert Hitchins Ltd has sold the Twigworth local centre in Gloucestershire to a private purchaser for £1.935m.
The 8,780 sq ft centre has been developed by Gloucestershire-based Robert Hitchins since 2021 as part of a mixed-use development north of Gloucester which includes more than 725 new homes at Twigworth Green.
Built by EG Carter on a ¾ acre site, the centre complete with 35 car spaces sits alongside the A38 and consists of five retail units which are fully let. They include a 4,000 sq ft Midcounties Co-Operative anchor store and local café business Janes Pantry.
Asset Manager for Robert Hitchins Ltd, Henry Squier, said: “We’re pleased to have delivered such a successful district centre to Twigworth at what could have been a difficult time during Covid. We were nevertheless able to bring a major national convenience retailer to the local area, as well as the hugely popular Janes Pantry. More recently, the addition of three independent retailers has further enhanced the centre, broadening the range of amenities available.
“Not only does the centre provide much-needed facilities for the residents of Twigworth, it also offers a great service for commuters on the A38.”
The agents were ARC Retail & Leisure, based in Bristol. Director Andy Smallman said: “The successful leasing campaign delivered a fully-let well-balanced mix of occupiers which meets the needs of the local community. The subsequent investment sale generated a good level of interest with multiple offers, showing that there remains a strong demand for high-quality prominent roadside retail assets with a good tenant mix and dedicated parking.”
The homes at Twigworth Green were developed by national housebuilder Vistry. Robert Hitchins Ltd has also provided landscaping, electric charge points and support infrastructure as well as a new access road and roundabout from the A38 between Gloucester and Tewkesbury.
Robert Hitchins Ltd is one of the leading property developers and investors in the South West and South Wales. It deals with the full development process from site acquisition and planning through to development and investment. It has recently developed Phase 1 of the Cotswolds Designer Outlet at J9 of the M5 motorway in Gloucestershire.