Property News - Modus snaps up premium retail units in Crewe

Manchester-based Modus has bought 98,000 sq ft (9,110 sq m) of city centre retail space in Crewe, Cheshire, through a joint venture with Corovest, the South African insurance company.

The two have paid Prudential£14 million for 32 units in a prominent position fronting Queensway and Victoria Street. Tenants include Next, Bhs, Abbey, Martin Dawes, Thomas Cook and JD Wetherspoon, as well as the Royal Arcade.

King Sturge acted for the vendor, with FPD Savills representing Modus.

Modus managing director Brendan Flood said: 'We believe this acquisition provides us with a superb opportunity to regenerate Crewe town centre.'