The property is a modern purpose built retail park totalling 121,938 sq ft fully let to national retailers including; B&Q, Tapi Carpets, Home Bargains, Pets at Home and Argos. The property benefits from a long weighted average unexpired lease term and low passing rents providing a secure investment and also allowing excellent trading condition for tenants.
Purchased in March 2014 by Ediston Real Estate on behalf of the EOP II JV S.A.R.L. joint venture vehicle.
- Secured a letting to Tapi Carpets within 1 month of purchase on the single vacant unit providing a now fully let park;
- Secured planning consent for a downsize of the B&Q unit to provide up to 3 units in the sourthern section of the existing B&Q footprint;
- Extended Pets at Home lease by 10 years from 2019 providing a long unexpired term compared to today’s average lease lengths; and
- Secured terms for a pod unit to be built in the car park subject to planning and B&Q’s approval.