Keith Butcher, Director of Real Estate at InfaRed Capital Partners, commented: “Matalan is a great family brand, with 230 UK stores and 30 international franchise stores, plus a growing online channel. This store will complement our existing tenant mix and represents a major step forward in the ongoing strategy to increase the fashion and homeware offer at the centre”.
Antony Darbyshire, Director of Property at Matalan, said: “We are delighted with our plans for a new store at St George’s, which is due to open by late Autumn. We look forward to welcoming more customers from the Preston area and invite them to come and explore our product range.”
St George’s is located between Preston’s two main shopping streets Fishergate and Friargate. The centre has its own 400 space multi-storey car park accessed from Lune Street and radiates around a large circular glass-roofed rotunda, occupied by Costa Coffee. Tenants include H&M, M&S, New Look, River Island.
InfraRed remains committed to the ongoing improvement of St George’s and, alongside Sovereign Centros, is also creating a new 32,000 sq ft restaurant quarter at the shopping centre, comprised of 5 units. The development has received planning permission and construction has commenced.
Metis Real Estate Advisors and Barker Proudlove acted for InfraRed Capital Partners.
InfraRed Capital Partners is a global investment manager focused on infrastructure and real estate. It operates worldwide from offices in Sydney, London, Hong Kong, New York, Seoul and Mexico City. With around 150 professionals it manages US$12bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed Capital Partners is authorised and regulated in the UK by the Financial Conduct Authority.
InfraRed has been an active real estate investor and manager from the start and focuses on assets which suit its intensive management style, targeting well-located, mostly multi-let properties in the key urban growth centres of Europe. InfraRed has also been an investor and manager in Asian real estate for over 10 years and is one of the leading international investors in the Greater China real estate market.
In February 2018 InfraRed sold the Powerhouse industrial portfolio in a +£300m transaction. InfraRed had assembled and value-enhanced this portfolio for its Active Fund III though multiple off-market acquisitions.
InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.
Further details can be found on InfraRed’s website, www.ircp.com.
About Sovereign Centros:
With a 30-year track record in the UK retail market, Sovereign Centros is one of the country’s most exciting and fastest growing independent real estate companies.
With more than £2 billion of assets under management and a development programme of more than 4 million sqft, Sovereign Centros specialises in retail, leisure and mixed-use property with a focus on shopping centres and retail parks.