Redevco buys five stores in London's Shoreditch
Redchurch Street in east London is a perfect example of the changing face of retail in the area, with a variety of trendy brands replacing the street's original smaller local shops.
Current retailers on the street include Versus Versace and Sunspel. Now Redevco, a specialist investment manager in retail properties, has acquired a handful of five boutiques in the area from CBRE Global Investors for over £16m.
The 597 sqm. retail space bought by Redevco is located at 15-29 Redchurch Street and occupied by A.P.C., Aimé, Kit & Ace, Nudie Jeans and Mast Brothers.
Adam Starr, Redevco’s Head of Acquisitions, said: “Redchurch Street is a highly desirable location for retailers seeking an alternative to London’s more established and traditional shopping destinations. As a hub for tech and creative industry start-ups on the fringes of London’s main financial district, the gentrification of Shoreditch has spawned a dynamic new offering of bars, restaurants, hotels and retail brands.”
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