Goold Estates completes sale of Walsall retail parade to The Mercian Trust

Goold Estates has announced the sale of a parade of town centre retail units at the £50 million St. Matthew’s Quarter scheme in Walsall.

The property investment and development company has sold four self-contained retail units on George Street to The Mercian Trust, a group of nine schools across Sandwell and Walsall including Walsall Studio School & Sixth and The Ladder School, both of which are located in the St Matthew’s Quarter.  

The row of units will be converted into a new digital hub which will provide additional teaching accommodation and complement Walsall Studio School & Sixth’s existing facilities at its campus opposite.

An additional three retail units in the same parade have been sold as tenanted investments to private investors at auction. The remaining 711 sq ft unit has been retained by Goold Estates and is currently let.

George Street lies at the southern end of Walsall High Street within the St. Matthew’s Quarter retail and leisure scheme. The scheme was developed by a joint venture between Goold Estates and St. Modwen, which ended in 2021.

The development has transformed Walsall’s historic high street, delivering the UK’s largest town centre Asda, 41 new apartments at Shannon’s View and the £2.7 million Goldmine building, home to Walsall Studio School and Sixth in Lower Hall Lane. In addition, there is more than 70,000 sq ft of retail and leisure space, with existing occupiers including B&M and Poundland.

Anthony Williams, property director at Goold Estates, said that the company is now considering redevelopment options for the remainder of the site, including its existing 1,000 space multi-storey car park.

He said: “We are very pleased to have completed a deal with The Mercian Trust which facilitates the growth of its schools and its commitment to local people. It’s exciting to see continued investment in the area, following the £3 million refurbishment of Asda and the completion of the St Matthew’s Campus.

“We’re proud to have delivered the regeneration of the southern end of Walsall High Street, having worked in partnership with St. Modwen for more than 20 years to develop St. Matthew’s Quarter into a vibrant retail destination. We are now focusing our attention on opportunities to further redevelop the site.”

Dan Parkes, chief executive officer at The Mercian Trust, said: “By working with Goold Estates we have been able to secure an ideal town centre location for our digital hub. Digital skills are more important than ever and this hub will provide our students and our wider community with a fantastic and much needed facility in which to develop the skills required for a digitally-first world.”

Burley Browne acted on behalf of Goold Estates for the sale of units to The Mercian Trust, with the three other properties sold by Bond Wolfe at auction.