ESH are pleased to have acted for Columbia Threadneedle Investments in the purchase of Cortonwood Retail Park.

The Freehold scheme is very well located in an out of town destination with critical mass. The park itself has transitioned from a ‘shopping park’ to a more fit for purpose relevant retailing destination.

The purchase price was £23.8 million. XPROP acted for the seller.

Vets4Pets, the veterinary surgery, have agreed to take a new unit in Stanway, Colchester. The tenant has agreed to take a new 10 year lease on Unit 1, Stane Park, extending to 3,500 sq ft. Vets4Pets will add to the tenant mix at the scheme, which is currently predominantly let to restaurant and drive-thru restaurant operators.

ESH advise the Landlord of the scheme, BP Investment Management.

Abrdn, represented by ESH, have disposed of Friary Retail Park in Stafford for a sale price of £4,500,000 to Cedar Investments Ltd.

The asset consists of four units, currently occupied by TK Maxx and Poundstretcher with two vacant units formerly occupied by Bathstore and Laura Ashley.

For further information contact: Jamie Naughton

ESH, acting for Lidl, have both acquired a landmark foodstore and disposed of a surplus 1-acre site for their clients in a key South East town.  ESH helped secure a new lease on the former Curry’s unit fronting the A25 arterial route where a food planning use has since been obtained.  The store has since opened and is understood to be performing extremely well.  Separately, ESH have helped complete the disposal of Lidl’s surplus long leasehold interest in a nearby plot of land on Woodbridge Meadows to a commercial developer planning to build a trade/office scheme subject to planning.

BMO Real Estate Partners have successfully re-geared the Halfords for a further 5 years and let the former Office Outlet unit to Pure Gym on their Greenham Road Retail Park in Newbury. A new 15 year lease was agreed with Pure Gym.

ESH acted on behalf of BMO Real Estate Partners.

ESH represented Abrdn in the disposal of Colchester Retail Park for a sale price of £13,100,000 to Buccleuch Property.
The 62,000 sq ft asset is fully let to Matalan, Go Outdoors, Shoe Zone, Matha Supermarket, Pure Gym, Subway and Starbucks, at an average rent of £17.75 per sq ft, with a WAULT of 9.71 years to expiry and 8.31 years to break.
For further information contact: David Cooke/ Flora Nash