Frodsham Eddisbury Square
15 May 2008
SHOPPING CENTRE BOUGHT FOR £6M
A joint venture formed by two Merseyside property companies has acquired Cheshire's Eddisbury Square Shopping Centre in a £6m deal.
Three60Austin is a new joint venture organisation formed by the Ethel Austin Property Group and Plus Housing Group. The deal to buy the centre in Frodsham was backed by The Royal Bank of Scotland. The joint venture company is now considering developing part of the site to build residential properties above the existing retail units.
Eddisbury Square is the main shopping centre in Frodsham and was built in the 1960's. The site consists of two-storey retail units arranged in a terrace around a central car parking area and occupiers include Boots Opticians, Just Go Travel, Sayers and Oddbins.
Andrew Lovelady, Financial Director for the Ethel Austin Property Group, said: "The site has great potential thanks to its location in the heart of Frodsham. We are looking at the possibility of creating a residential scheme on the site and look forward to working with the Plus Group as they have considerable expertise in this area".