Michelmores has advised CJL Rogers Properties Ltd (“CJL”) and Devonfields Ltd (“Devonfields”) on the acquisition of a retail centre in Devon’s new town centre, situated in Cranbrook, near Exeter.
CJL and Devonfields are private property and development companies owning a large portfolio of retail premises spread nationally across shopping centres and high streets, as well as warehouses and industrial locations. Over the years, the company has acquired newly built retail centres in Stockmoor Village, Bridgwater and now in Cranbrook.
The retail centre is situated under a block of residential apartments, in a market square next to a new Morrisons supermarket that is set to open in early 2025. Construction of the units has completed and tenants are now beginning fit-out works of the units.
The shopping district is set to be a vibrant community of retail and food outlets, including a café and charity shop, and a nursery school. The development looks to be a promising new hub not just for the people of Cranbrook, but also for those in the surrounding villages who will be able to shop locally, rather than needing to travel to Ottery St Mary or Exeter.
The Michelmores team advising on the deal was led by Partner Richard Walford, alongside Chartered Legal Executive, Zilah Nelson, both from the Firm’s Transactional Real Estate team.
Richard comments:
“We’re delighted to have advised CJL and Devonfields on this major acquisition, supporting Cranbrook’s growth in the community, and contributing to the development of this town centre.”
Real Estate forms a core part Michelmores’ work. The Firm advises organisations and individuals doing business in the real estate sector, to help them stay at the forefront of progress and innovation. Read more on our website.
