On behalf of one of its investor clients, Redevco, one of Europe’s largest privately-owned real estate investment managers, has agreed to acquire Templars Square in Oxford, England, for £38.8 million (€46 million/$52 million) from New River. Redevco is purchasing the 1960s local shopping center with a view to transforming it into a landmark residential-led mixed-use urban scheme over the next decade. The project has a pre-existing planning consent that includes 226 residential units.
Tom Hoye, transaction director at Redevco United Kingdom, said, “Templars Square offers an outstanding opportunity for Redevco to do what it does best, namely helping cities become more sustainable and livable places. We plan to take a much-loved, but dated, retail asset and transform it into a thriving urban destination which will continue to draw in the local community.”
Templars Square, which lies 2.5 miles southeast of Oxford’s city center, is a covered mall-based shopping c
