In a significant move that underscores its commitment to strategic real estate investment, Newcore Capital has recently completed the acquisition of a prominent supermarket property located in Bromley-by-Bow, East London. The transaction, valued at an impressive €35.1 million, marks a pivotal milestone in Newcore’s ongoing expansion efforts and highlights the company’s astute investment strategy in the dynamic London market.
Spanning an expansive area of 22,662 square meters, the acquired site occupies a prime position within the bustling London Borough of Tower Hamlets. Central to its appeal is a spacious Tesco supermarket, covering approximately 6,503 square meters, complemented by a generous 558-space car park and a conveniently located petrol filling station. This well-rounded offering caters to the diverse needs of both residents and visitors, positioning the property as a cornerstone of the local community.
Facilitating the transaction were esteemed firms Morgan Williams and Osborne Clarke, representing British Land, while Savills and DWF acted as legal advisors for Newcore. The collaboration between these industry-leading entities underscores the significance of the deal and speaks to the confidence placed in Newcore’s strategic vision by key stakeholders within the real estate landscape.
Commenting on the acquisition, Harry Savory, Chief Investment Officer at Newcore Capital, expressed his satisfaction at securing the Tesco Bromley-by-Bow property. He emphasized Newcore’s strategic focus on identifying covered land opportunities in strategic locations, where there exists a medium-term potential to enhance value through the provision of expanded social infrastructure amenities. This forward-thinking approach aligns with Newcore’s overarching goal of achieving robust risk-adjusted returns while making a tangible positive impact on local communities.
Echoing Savory’s sentiments, Hugo Llewelyn, CEO of Newcore Capital, highlighted the shifting dynamics within the real estate investment landscape. As technological advancements continue to reshape traditional sectors such as offices and retail, investors are increasingly seeking asset classes that demonstrate resilience to these disruptions. Llewelyn identified social infrastructure as a promising avenue for institutional capital, offering sustainable income streams and capital appreciation while delivering meaningful societal benefits.
The acquisition of the Tesco Bromley-by-Bow supermarket exemplifies Newcore’s strategic vision and positions the company as a frontrunner in innovative real estate investment strategies. With a proven track record of value creation and a steadfast commitment to driving positive change, Newcore Capital remains poised to capitalize on emerging opportunities in the ever-evolving London real estate market. As the company continues to expand its portfolio and solidify its presence in key markets, it stands as a beacon of excellence and innovation in the realm of real estate investment.
