30th May 2015

Tapi completes the line-up at Pasteur Retail Park

Ediston is pleased to announce that the joint venture partnership with Europa Capital LLP, the general partner of Europa Fund IV, has completed a new 10 year lease to ‘Tapi Carpets & Flooring’ at Pasteur Retail Park in Great Yarmouth. Their unit totals 5,000 sq. feet and as a result the Park is now 100% occupied. This is Tapi’s first retail warehouse unit with plans to open 20 stores in 2015 and a further 40 stores in 2016.

Commenting on the transaction, Graham Lind, Investment Manager at Ediston, said: “The letting to Tapi introduces an exciting new retailer to the Park and completes the immediate goal of achieving a fully let asset, maintaining Pasteur Retail Park as the prime Park in the area”.

Rob Sim, Partner and Head of Northern Europe at Europa Capital LLP, commented that: “The letting successfully achieves a 100% occupancy rate within 3 months of acquisition and adds to the tenant mix of the Park”.

Pasteur Retail Park, which extends to approximately 122,000 sq. feet, was purchased by the Europa Fund IV and Ediston Real Estate joint venture in March 2015.

The Europa Fund IV and Ediston Real Estate joint venture partnership was represented by Morgan Williams. Tapi Carpets & Flooring were represented by Harvey Spack Field.