Savills has been appointed by Joint Administrators Grant Thornton to market The Peacocks Centre in Woking, a town centre retail scheme, for offers over £25m.
The Peacocks Centre comprises 526,547 sq ft of retail space across 80 units, with key anchor tenants including H&M, Primark, TK Maxx and Next. The scheme also houses a food hall on the lower concourse providing the primary F&B provision for the centre with current tenants including McDonald’s, KFC, Chopstix and Subway.
In addition, the Centre also comprises a 137,000 sq ft former Debenhams store, which offers potential to build upon the strong retailer line-up with additional national brands or alternatively introduce complementary uses to bolster the asset as a mixed-use destination.
The scheme is adjacent to the recently completed Victoria Place development that includes c400 residential units, a 189 bed Hilton hotel and a 50,000 sqft M&S.
Mark Garmon-Jones, head of shopping centre investment and repurposing at Savills, commented, “The Peacocks Centre provides an opportunity to acquire a quality scheme, recently refurbished, in an affluent South East town with significant asset management potential to increase the income to circa £4.5m.”
David Warnock, Joint Administrator at Grant Thornton, added, “The Peacocks Centre is a modern well located scheme, which has benefited from a multi-million pound refurbishment of Jubilee Town Square and the Victoria Square development.
'The Centre is the second of three schemes that are being sold under separate administrations, with Rushmere Shopping Centre and Retail Park, Craigavon currently on the market and Magowan West, Portadown due to be released for sale.”