Credence Capital concludes grocer anchored convenience retail acquisition in Woolwich, London

Credence Capital, on behalf of its private client investors and partners, successfully completed the acquisition of the grocer anchored convenience retail units in Berkeley Homes’ c. £2bn Royal Arsenal Riverside (“RAR”) mixed use regeneration scheme in Woolwich, London. The acquisition is another successful grocer anchored convenience retail transaction in the UK by Credence Capital. The asset is anchored by M&S, Tesco, Sainsbury’s and Barclays Bank and is situated in a prominent and highly visible location on Plumstead road. It is adjacent to the Woolwich station of the new Elizabeth Line opened in the middle of 2022 which is forecast to host over 50,000 daily passenger movements.

The regeneration has created a vibrant new mixed-use community with over 3,700 new homes delivered to date. It is one of Europe’s largest regeneration projects and has transformed an industrial munitions site into a thriving community which will ultimately provide over 5,700 homes, restaurants, bars, retail outlets and leisure facilities, all set amongst 23 restored listed buildings, parks and riverside paths.

The asset is extremely well connected with immediate access to the Elizabeth Line via the Woolwich station, providing access to Canary Warf within 8 minutes and Liverpool street within 15 minutes. In addition, it is less than 300m away from the Woolwich Arsenal Station which provides access to Central London via National Rail and the DLR and is less than 10 minutes away from London City airport.

“We enjoyed working with Berkeley Homes on this transaction and look forward to participating in the regeneration journey in Woolwich. We are excited about what has already been achieved and believe over the coming years the strength of the area will only increase. We have demonstrated both our commitment to the UK market and ability to source and conclude complex transactions in difficult market conditions that are beneficial to our investors. We continue to pursue opportunities in the UK and Poland and aim to continue to grow the portfolio. While we are fortunate to have partnerships with several highly successful investors, we welcome discussions about us, our background and strategy with new investors that may have an interest in Credence Capital’s capabilities.”

Nick Matulovich, Partner, Credence Capital

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