Investment firm Sheet Anchor Evolve, part of M Core, has acquired Cockhedge Shopping Park in Warrington from Altered Space for an undisclosed sum.
Cockhedge Shopping Park
The sale follows a multi-year programme of asset repositioning, which has increased occupancy at the centre to 98% by floor area and 94% by unit count.
The Cockhedge scheme has been owned and managed by Altered Space since 2019. Developed in the late 1980s and early 1990s, the centre had experienced declining occupancy due in part to the expansion of competing retail destinations in Warrington town centre.
In response, Altered Space implemented a strategy to ‘rightsize’ and modernise the scheme. The programme included the demolition of around 65,000 sq ft of redundant retail space to create a future residential development site, alongside a comprehensive refurbishment of the remaining commercial scheme, completed at the end of 2025.
Michael Brown, co-founder of Altered Space, said: “Cockhedge presented a classic town centre challenge, with an over-provision of legacy retail space that no longer aligned with modern demand. Our strategy was to reshape the scheme into a more sustainable and relevant commercial offer while simultaneously unlocking the long-term redevelopment potential of the wider site.
“The successful sale of the commercial element reflects the value created through that repositioning, and we’re pleased to see the asset move into its next phase under new ownership. Looking ahead, Altered Space remains committed to the ongoing regeneration of the wider Cockhedge site, with ambitious plans to further enhance its mixed-use offerings and community-focused spaces.”
Altered Space retains ownership of a standalone 10,000 sq ft unit within the retail park, where it previously secured full planning permission for a new GP hub with the capacity to serve up to 12,000 patients.
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