Evolve Estates has acquired Grosvenor Shopping Centre in Northampton.

The shopping centre extends almost 320,000 sq ft and homes a range of huge retail brands. Owned by the M Core Group, Evolve Estates acquired the Grosvenor Shopping Centre from L&G for an undisclosed sum.

Alongside being home to some of the largest retail brands, it also has an 809-space multi-storey car park which is owned and operated by West Northamptonshire Council.

Joe O’Keefe, one of the founding partners of Evolve Estates, said: “We are pleased to have completed this acquisition in an incredibly challenging market, cementing our commitment to continued investment in the retail sector.

“This is one of the largest retail centres to come under our ownership and we’re excited to get to work. We’re already in discussion with numerous tenants who will complement the scheme and the wider Northampton town centre offer.

“It’s also rare to find a scheme like this, with so many positive projects going on in and around it. There are more than £25m of government-backed development projects immediately surrounding the centre on three separate sites, with Market Square, Greyfriars and the Abington Quarter, plus the Clock House key worker residential scheme.

“These will provide significant opportunities for us and the town to grow and fulfil its potential.”