Partner Article

Hebburn Shopping Centre acquired for £2.4m

Hebburn Shopping Centre, based on Station Road, Hebburn, will soon undergo a regeneration after being purchased for £2.4m.

Bought by a North East business consortium, the 2 acre site will be rebranded to The Mountbatten Shopping Centre, named after Lord Mountbatten, who commanded the Hebburn-built destroyer HMS Kelly during the Second World War.

National stores including Herons Frozen Foods, Boots and Subway currently occupy the units, with local businesses including hairdressers, laundrettes and newsagents also trading from the site.

The shopping centre was acquired through leading North East chartered surveyors and estate agents Bradley Hall, with assistance from financial advisers KSM Associates and Gordon Brown Law Firm llp.

Kourosh Manoucheri, managing director at KSM Associates, said: “This is a fantastic investment to develop a site with a wealth of opportunities.

“The investors can look forward to a good return on investment and a high rental yield. The purchase could also encourage improvement in the local area, boosting employment and business opportunities.”

“The syndicate were ably represented by their solicitor Gordon Brown and Richard Brown of Gordon Brown Law Firm llp, whose experienced and practical approach greatly facilitated the transaction, complementing the value that the investors anticipate their acquisition will bring to the local community”

Richard Rafique, director at Bradley Hall, said: “This particular site has great potential to be the go-to shopping centre in South Tyneside.

“The investors have expressed a great interest in creating an attractive area for retailers and the general public, whilst maintaining its current tenants and also attracting new national and local businesses.

“Bradley Hall will be managing the site moving forward, ensuring that tenants are well looked after and that the owners receive a good return on their investment.”

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