// NewRiver finalises sale of Templars Square Shopping Centre in Cowley, Oxford
// The centre has been sold to real estate investment manager and developer Redevco for £38.8m
NewRiver has completed the disposal of Templars Square Shopping Centre in Cowley, Oxford, for £38.8 million.
The shopping centre has been sold to real estate investment manager and developer Redevco.
Redevco plans to transform the 1960s shopping centre into a residential-led mixed urban scheme over the next decade.
The project has pre-existing planning consent that includes 226 apartments.
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According to Redevco, the deal is in line with its mission to “help cities become better places to live, work, shop and play”.
NewRiver acquired the 236,000 sq ft Templars Square shopping centre for £24.6 million in December 2012.
Templars Square is a covered shopping centre with some open-air and street-facing retail units, two car parks (Knights and Barns Road) and upper-floor offices.
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