PPR Estates confirms £5.5m Winchester addition to town centre regeneration portfolio.
We’re pleased to confirm a further acquisition within our town centre regeneration portfolio in Winchester this week. The site GDV of £5.5m includes existing high street site retail leases with income, as well as vacant and under-utilized real estate to the rear and uppers to asset manage. We will be working with the existing tenants and all the local stakeholders to ensure the long term, viable future of Winchester town centre.
Jon Caplan, PPR’s MD adds: “High street retail has been battered in the last couple of years by the internet and Covid-19. This acquisition in Winchester is further evidence of our commitment to invest in and re-invent our viable town centres and high streets for everyone’s benefit. PPR are excited to add this site into our growing portfolio.”
PPR has considerable further funds to invest in similar site acquisitions this year and beyond. Our strategic aim is to repurpose vacant and under-utilised properties to create thriving mixed-use residential, retail and commercial units, generating value and transforming English town centres through hands on asset management and redevelopment. At the simplest level, by creating flexible spaces where people want to spend time, we will create sustainable value.