Millionaire owners buy string of buildings around main shopping centre in Northampton – hinting at potential expansion

The owners of The Grosvenor Centre, Evolve Estates, which is part of the M Core group, have bought several more retail units on Abington Street and Wood Street in Northampton.

The acquisition includes properties at 15-27 and 27/29 Abington Street and 9/15 and 1-13 Wood Street, which is located next to the Grosvenor Centre. These locations are occupied by retailers such as Barclays Bank, Bodycare and Holland & Barrett.

Joe O’Keefe, co-founder of Evolve Estates, said: “This is an exciting and logical addition to our portfolio, we already own and manage the Grosvenor shopping Centre which has proved to be a great success. This continuity of ownership is great news for the community and local shoppers to the area, aiming to create spaces where businesses can grow and provide the community with further services and retail opportunities.”

It remains unclear whether this acquisition signals a physical expansion of the existing shopping centre or simply a broadening of their retail footprint in Northampton town centre.

Evolve Estates has been making significant moves recently inside The Grosvenor Shopping Centre, with H&M confirmed to be opening in April 2025, Bewiched Coffee opening up at the former Burton Menswear store, Michael Jones Jeweller’s investing in its premises and the Microshops concept set to soon open.

Evolve Estates is also searching for new tenants to fill the former Sainsbury’s store inside the Grosvenor Centre, which has been vacant since the supermarket closed in March 2021.

The estate agents in charge of the Grosvenor Centre, FMX Urban Property Advisers, recently said: "Our client Evolve Estates (owners of Grosvenor Centre) has exciting plans to keep enhancing the scheme, with a small number of retail units and large space opportunities still available for leisure uses and offices.”

The whole area around the Grosvenor Centre is set to be transformed in the coming years. The Market Square is currently undergoing a major £12.4 million refurbishment, STACK Leisure Centre has plans to move into the former Market Walk shopping centre, and Abington Street and Fish Street are currently being refurbished as part of a £5million project.

This acquisition is part of Evolve Estates' broader strategy to ‘enhance its presence’ in the UK retail sector. Over the past year, M Core has invested more than £275 million in various commercial properties, including notable acquisitions like The Centre in Livingston, Cwmbran Centre, The Galleries in Washington, Sunderland, and Three Spires in Lichfield.