CBRE grows Angel Central ownership with £2.2m acquisition

CBRE Global Investors has grown its ownership of Islington’s Angel Central shopping centre with the £2.2m acquisition of 14 Upper Street.

Formerly Barclays Bank, the newly acquired property in the 170,000 sq ft retail and shopping complex will be developed to centre’s visual presence from Upper Street, with potential for gateway units and a rooftop restaurant.

The acquisition comes as long-standing cinema tenant Vue has extended its lease on its Angel Central site until 2044, and follows CBRE’s acquisition of 19 Upper Street in August 2016 for £4.5m.

Dave Windross, head of property UK&I at Vue, commented: “CBRE Global Investors’ significant investment and exciting transformation plans for Angel Central demonstrate their commitment to the future of the centre and enhancing the leisure offer alongside the strong retail line up. “

Laura Wilson-Brown, head of UK asset management at CBRE Global Investors, added: “We are delighted that Vue has chosen to commit over the long-term to Angel Central, underscoring its position as a prime retail and leisure destination for residents and visitors to Islington.

“By acquiring 14 Upper Street we have increased our ownership in the area and our long-term commitment to Angel Central.”

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