Shoosmiths advises Sovereign Centros from CBRE on major new lettings at Festival Place
October, 2024 - Milton Keynes, England
Shoosmiths has assisted Sovereign Centros from CBRE on securing two new significant lettings at Festival Place, a 1.1m sq ft retail centre located in Basingstoke.
The latest deals involve Superbowl UK taking a 16,750 sq ft unit at the centre, while Hans Buffet will open a 10,000 sq ft restaurant. The lettings form part of Shoosmiths’ ongoing support for Sovereign Centros in executing its asset management strategy for Festival Place, with the law firm supporting the strengthening of the centre’s portfolio of brands.
Superbowl UK’s plans for its venue at Festival Place, set to open in 2025, include 10 lanes for bowling, soft play areas, interactive darts, a Shuffleboard and SEGA Prize Zone. Hans Buffet will open its restaurant in the neighbouring unit. The family entertainment brand and global restaurant chain join a roster of more than 200 shops, dining and leisure facilities at Festival Place, including 2024 openings for Søstrene Grene, Slim Chickens, Boswells, Rituals and Chopstix.
Jack Gordon, director at Sovereign Centros from CBRE, said:
“The arrival of Superbowl UK and Hans Buffet further bolsters the leisure offering at Festival Place. This is a key part of our asset management strategy, with Shoosmiths supporting the centre’s evolution and helping deliver a well-rounded and engaging proposition for visitors.”
Shoosmiths advised on all real estate aspects of the two transactions, with the firm’s deal team led by real estate principal associate Nicholas Dalgleish.
Nicholas Dalgleish, real estate principal associate at Shoosmiths, added:
“Following a series of strategic lettings earlier in 2024, these latest deals with Superbowl UK and Hans Buffet mark a strong year of growth for Festival Place. Shoosmiths has been collaborating closely with the team at Sovereign Centros from CBRE to implement its strategy for the centre, expanding and diversifying its tenant base.
“Shoosmiths brings a commercially-minded approach to supporting clients on asset management matters. This is rooted in navigating individual deals successfully and efficiently, but also in helping achieve their broader commercial objectives for each scheme.”
