Group Geraud swoops for Precot Shopping Centre

MARKETS specialist Group Geraud has completed the acquisition of the 90,000sq ft Prescot Shopping Centre in Merseyside, heralding an era of transformation for the town centre.

Group Geraud is the largest market operator in Europe and the deal, the value of which is undisclosed, promises a bright new future for the centre, as the company aims to bring new life and vibrancy to the heart of the town.

Geraud UK managing director Philip Lamb said: “Extensive discussions with Knowsley Council are ongoing to formulate plans which will see a transformation of the town centre and celebrate the heritage of which Prescot should be justly proud.

“Since acquiring the centre we have been recruiting new businesses and over the next few weeks we will be launching a number of new retail offers.”

With parking for more than 200 cars, the centre’s tenants include Halifax, Clinton Cards, Poco Coffee, Showerings Delicatessen, Home & Bargain, Post Office, Knowsley Council and Library, Knowsley Museum, Turkish Barbers, Maureen’s Pets Supplies, Sue’s Mobiles, and Farmfoods.

Group Geraud has acquired Prescot Shopping Centre through its Market Village brand, which runs indoor markets across the UK including well-known visitor destinations the Parkhead indoor market in Glasgow, and Brixton Village in London.

Cllr Mike Murphy, Knowsley’s cabinet member for regeneration and economic development said: “The sale of the Prescot Shopping Centre is really positive news.  Group Geraud has organised the Prescot Producers market since May 2011, so the company is very familiar with the area and its potential.

“Its plans to invest and bring new tenants into the centre will bring a much needed boost to the shopping offer in Prescot and support the council’s vision to transform Prescot town centre into a thriving and even more attractive destination for resident and visitors.

“We look forward to welcoming Group Geraud to Prescot and working with them to further enhance Prescot town centre. “