RivingtonHark working with partners have completed on the acquisition of the Kennet Shopping Centre in Newbury.

The scheme comprises some 250,000 sq ft of retail and leisure space spread over more than 5 acres. The asset strategically sits between the new Grainger Market Street development by the Station and  town centre. It also houses the main town centre multi story car park with over 400 sapces.

Whilst the asset has suffered though lack of investment, it houses the towns new 7 screen cinema let to Vue along with adjacent restaurants. Other tenants include Costa Coffee, Laura Ashley , Pizza Express and F Hinds.  The asset offers significant scope for rejuvenation working with the occupiers and other Stakeholders to bring this to fruition.

RivingtonHark, have been appointed to use their retail expertise in order to improve the service offering and re-vitalise this prime location in Newbury town centre.

RivingtonHark Director, Mark Williams, said:

“We are delighted to be working with our partners on this project as well as with the wider stakeholders in the town. There is a lot to do, but believe significant improvements can be made.”

CBRE acted for the vendor.