The shopping centre at Ocean Terminal has been sold to Fortress, a US investor, in a £15 million deal reported by Green Street News.
The investment company is largely owned by Mubadala Investment Company, which is connected to the Abu Dhabi sovereign wealth fund.
The shopping centre has changed since the arrival of the tramline outside, with demolition of part of the building at the northern end where Debenhams and a car park was.
Planning permission was granted in 2025 for the redevelopment of the centre which is now almost a quarter of century old.
Previously the main business at Ocean Terminal was Debenhams and there was a Marks and Spencer foodhall. Debenhams was demolished, and M&S moved out, leaving behind tenants such as Boots, Nando’s and Pizza Express. Vue Cinema is one of the other main tenants.
It is likely that a separate developer will progress the residential part of the site. JLL has marketed the 3.43 acre waterfront site for a residential development of 531 homes since November last year with planning consent for the Build to Rent apartments which is adjacent to the Ocean Terminal shopping centre.
