Ediston has now completed the lettings of units 5a, 5b and 5c which extend to a total of 18,868 sq. ft. Iceland Foods Limited has signed a new 10 year lease, on units 5b and 5c which have a total area of 13,672 sq. ft. Iceland will trade the store as a ‘Food Warehouse’. Sue Ryder has signed a 10 year lease with a 5 year tenant break option on unit 5a, which extends to 5,196 sq. ft. Both tenants were granted a short rent-free period of only three months.
The retail park was acquired in December 2017. Units 5a, 5b and 5c were vacant, but benefited from a rental guarantee from the previous owner, which was due to expire
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Ediston, on behalf of its listed REIT, the Ediston Property Investment Company plc, has signed a lease on unit B, Barnsley East Retail Park, with B&M Retail Limited (‘B&M’). The new letting has increased B&M’s occupation on the park by 40%.
B&M occupy the adjoining unit A which extends to c. 25,000 sq. ft. on a lease expiring in September 2027. Unit B, which extends to c. 10,000 sq. ft., was previously occupied by Carpetright, who completed a Company Voluntary Arrangement (CVA) in 2018. Under the terms of the CVA Ediston was able to secure vacant possession of the unit to facilitate the new letting.
B&M has signed a lease on unit B and will trade from both units as
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There are significant development opportunities to accommodate tenant demand on the property and there exists lease re-gears and asset management initiatives to complete.
PURCHASE
Barnsley East Retail Park was acquired by EPIC REIT from Stadium Group as part of a 4-property portfolio in December 2017, for a portfolio price reflecting approximately £144 million.
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The park was purchased with vacancy and existing tenant demand and development opportunities to meet this demand further increasing value at the property.
PURCHASE
Kingston Retail Park was acquired by EPIC REIT from Stadium Group as part of a 4-property portfolio in December 2017, for a portfolio price reflecting approximately £144 million.
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