ESH are delighted to have advised Aviva Investors on the purchase of Brunel RP in Reading from Swiss Life Asset Managers. The park is a dominant retail warehouse of 117,000 sq ft let to 8 tenants including B&M, Home Bargains, Pet at Home, Halfords and Dreams. The purchase price was £26,380,000. XPROP represented the vendor.

ESH advised Knight Frank Investment Management in the disposal of B&M in Dartford to a private investor. The 39,602 sq ft unit is let to B&M until September 2036. The sale completed at a price of £7,025,000 reflecting a net initial of 6.50% net initial yield.

ESH have advised The Crown Estate jointly with Park Place Retail on a letting to Go Outdoors who have taken the former New Look unit at Banbury Gateway Retail Park. They join TK Maxx who opened last summer as well as the likes of Primark, M&S, Next and Fat face.

Any enquiries please get in contract with Chris Fenton or Adam Patrick.

ESH, acting for Columbia Threadneedle, are delighted to have assisted in welcoming the latest phase of occupiers to the ever-improving roster at Parkgate Shopping in South Yorkshire.  The Easter weekend saw the combined openings of both Wilko (with 100+ customers queuing for its grand opening!) and a fully refurbished and extended 70,000 sq ft+ unit for Frasers Group who have brought in Sports direct, USC, Everlast and Game under one, hugely impressive, roof.

Several new lettings, upsizes and relocations are either agreed or in legals and will be announced shortly as 2024 looks set to be a landmark year for this busy regional shopping destination.

Edgerley Simpson Howe have advised London & Cambridge Properties (LCP) on a new letting to Oak Furnitureland who took the former Argos unit at M Park Alexandra. The 10,000 sq ft showroom is Oak Furnitureland’s first new showroom in three years and they have signed a 10 year lease on the Park joining occupiers including Matalan, SCS, Food Warehouse, Pets at Home & Poundstretcher. One remaining unit of 35,000 sq ft is currently under offer.

Any enquiries please contact Henry Phipps.

Columbia Threadneedle Investments, represented by ESH, have purchased the dominant Parkgate Shopping Park in Rotherham. The park spans over 40 acres and makes up the 2^nd largest purpose-built retail warehouse park in the UK, let to 41 tenants at an average retail rent of approximately £16 per sq ft.

The purchase completed in January 2024 reflecting a Day 1 NIY of 11.25%, reversionary yield of 9.5% (based on an average retail rent of £12 psf). The capital value breaks back to c. £130 psf.

Retailer trading on the park is very strong with excellent retailer feedback and compelling Visa transaction data, comparable to other regional schemes in the country.

For further details of the investment please contact the ESH investment team. For letting enquiries please contact Adam Patrick or Chris Fenton of the ESH agency team.