Working with investors, RivingtonHark purchased the Kennet Centre in Newbury in January 2020.

The centre had lacked investment and active management for some time, and is no longer sustainable as a town centre shopping environment. Our role is to advise on the redevelopment strategy, as well as managing the existing scheme to maximise occupancy and income.

We adopted a “meanwhile” use strategy to regenerate the asset in the short-term, ahead of mid-term redevelopment plans. This strategy has successfully increased occupational levels from 40% in Jan 2020 to circa 98% over an 8 month period and continues to provide shops and a thriving environment to small local businesses.

We have advised on all Landlord and Tenant matters, enabling the redevelopment proposals to be brought forward on programme.  The comprehensive regeneration plans will transform the old, outdated shopping centre into a new, vibrant, mixed-use, town centre environment.

The Eagle Quarter, as it will be known, includes 367 new homes, work place hubs and flexible commercial units for artisan and independent retailers. The aim is to breathe new life into the key town centre site, taking inspiration from the town’s heritage and replacing the large covered shopping centre with open streets.

A video of the proposal can be seen below, and full details of the exciting scheme can be found here.