Queensberry Real Estate has been selected by CBRE Real Estate Finance, on behalf of the Merseyside Pension Fund, as the development management partner to revitalise the Tunsgate Square shopping centre in Guildford.
The 100,000 sq ft scheme is in the centre of the cobbled High Street, opposite the Guildhall clock, and is anchored by Heal’s. CBRE has provided property and asset management services at the centre since 2011.
Architects at Lyons Sleeman Hoare have been instructed to draw up plans to increase the centre’s linkage to surrounding streets and local landmarks. The 27-unit scheme was refurbished in 1989.
The overhaul comes ahead of M&G Real Estate and Land Securities’ anticipated joint venture to create a vast £400m-£500m retail scheme at Guildford’s North Street retail development site and the existing Friary Centre mall, revealed by Property Week two weeks ago.