// Retail landlord New River Retail has sold Templars Square Shopping Centre in Oxford to developers Redevco for £38.8m
// The deal is expected to be completed in the first quarter of 2022
New River has sold its Templars Square shopping centre in Oxford to to real estate investment manager and developer Redevco in a £38.8 million deal.
The company acquired the 236,000 sq ft Templars Square shopping centre for £24.6 million in December 2012.
In November 2021, Oxford City Council released a planning decision notice enabling 236,000 square feet of mixed-use regeneration. The scheme will include 226 new homes and major improvements to the public domain.
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The deal is expected to be completed in the first quarter of 2022.
New River chief executive Allan Lockhart commented: “We are pleased to agree this sale which, as we have already demonstrated through our recent disposal of Blenheim Shopping Centre in Penge, highlights the significant value we can create through our Regeneration expertise.
“On completion this disposal will further improve our LTV, strengthening our position as we execute our resilient retail strategy.”