A SHOPPING centre in Chineham is under new management.

Tellon Capital has acquired Chineham Shopping Centre from LGIM Real Assets (Legal & General) for a sum in the region of £60m.

James Burchell, partner at Tellon Capital, said: “We recognise Basingstoke and Deane as a fantastic part of the country with an excellent demographic and catchment.

“We plan to invest in the centre and enhance the mix of shops.

“As a company establishing a track record in Hampshire, we sincerely look forward to working with the local community and all interested parties on an exciting future.”

James Whitehill, senior fund manager, LGIM Real Assets added: “This sale concludes the successful completion of our business plan for the assets resulting in strong returns being delivered to our investors.”

Tellon Capital’s team has more than 50 years’ experience in real estate.

With assets throughout the country, the company has started development for the new Bargate Quarter in Southampton, a further retail and residential project in Kingston-Upon-Thames and acquired the Harpur Centre in Bedford, establishing an enhanced vision for the centre.

Chineham Shopping Centre includes a 24-hour Tesco Superstore, M&S Foodhall, Boots, Costa and Chineham Library.

The transaction completed on February 27, with Aitchison Raffety acting on behalf of Tellon and BNP Paribas acting as advisors for Legal & General.