St John's Walk Shopping Centre Colchester sold to developer

St John’s Walk Shopping Centre in Colchester, which includes the St John’s multi-storey car park, Iceland, and Poundstretcher, has been purchased by Nottingham-based ALB Group.

The company plans to invest in the site to attract new tenants and fill empty units before Christmas.

Arran Bailey, managing director of ALB Group, said: "St John’s Walk is an important destination in the heart of Colchester and we see huge potential for its future.

St John's Car Park - the entrance off Southway (Image: NQ)

"Our immediate priority is to invest in the centre, attract new retailers, and bring fresh energy back to the high street.

"We believe the centre has all the ingredients to thrive and we're looking forward to working with local businesses, the council, and the wider community to help shape its next chapter."

The centre includes a number of vacant units, including the former Wilko store, which closed in October 2023 after the retailer went into administration.

ALB Group says it will work closely with Colchester City Council and local businesses to maximise its long-term potential.

Part of the shopping centre - the empty Wilko unit in St John's Street (Image: NQ)

Tim Lloyd, director at commercial property agents Cited, said: "We look forward to working with ALB to let the two longstanding large vacant units and create some smaller kiosks and offer good value with the benefit of being adjacent to one of Colchester’s biggest car parks.

"We will be offering both permanent and flexible leases on inclusive rents and with the investment that ALB will be making the units will be ready to trade immediately."

ALB Group plans to invest significantly in the shopping centre over the coming months, with work already underway to secure tenants for the remaining vacant units.

Colchester Council will play a key role as both a stakeholder and planning authority, to maximise the centre's role as a shopping destination while making the most of its parking facilities and wider city centre location.

(Image: NQ)

The acquisition is the latest addition to ALB Group’s growing portfolio of regeneration and investment projects across the UK.

It continues to identify opportunities to unlock the potential of prominent town and city centre sites.

St John’s Walk currently houses a mix of national retailers and independent businesses, and a popular city centre car park.