Helical Retail’s planned 98,000 sq ft Cortonwood Shopping Park has been granted planning permission on appeal. The new scheme will form a £30m extension to the existing Cortonwood Retail Park, owned by Black Diamond investments.

Cortonwood Shopping Park will comprise of retail and restaurant units, and Helical Retail expect to start work on site in early 2015.

Adrian Russell of Helical Retail said: “The existing Cortonwood Retail Park is already very successful and includes tenants such as Morrisons, Next, Argos, Asda Living, Boots and B&Q.  [The extension] will bring more quality retailers to this vibrant destination and create much needed jobs in the area.”

Edgerley Simpson Howe is the letting agent for Cortonwood Shopping Park.

M&G Real Estate, on behalf of the M&G Property Portfolio, has acquired Riverside Retail Park in Northampton and Wycombe Retail Park for £123m – in exchange for its interests in the Tesco Extra on Honeywood Parkway in Dover and a Debenhams store in Taunton

M&G Real Estate is also making a balancing cash payment of £48m net of costs. The £2.21bn M&G Property Portfolio, is a pure bricks and mortar fund, which invests in UK commercial property and is aimed at private investors. Edgerley Simpson Howe advised the BP Pension Fund. For further details, contact Tony Rogers.

The Danish retail chain Jysk have taken a 7,200 sq ft unit in Grantham.

The unit was previously occupied by Dreams who went into administration earlier this year. Jysk took at 10 year lease at a rent of £86,400 pa. Edgerley Simpson Howe were acting on behalf of Grantham Rycroft Ltd with Morgan Williams acting for Jysk.

Riverside Retail Park, in the Wincheap area of Canterbury adjoining the M2, has been sold by a client of Cornerstone Real Estate Advisers to Mayfair Capital Property Unit Trust.
The park is let to B and M, Pets at Home and Staples, with unexpired lease terms of between 9 and 14 years. The purchase price of £8.514m reflected a net initial yield of 7%. Edgerley Simpson Howe LLP acted for Cornerstone, whilst MCPUT were advised by CWM. For further details contact Tony Rogers.

Sporting Pro, the new sports fascia operated by Matalan in a collaboration with Intersport, have taken a 10 year lease on a 12,000 sq ft unit on Colchester Retail Park, Colchester.

The unit will be in the first batch of 5 store openings and is due to open in October. Other tenants on the retail park include a Matalan store in a separate unit along with retailers including Brantano and Maplin. Edgerley Simpson Howe were acting on behalf of the landlord, Standard Life Investments

Standard Life Investments UK Retail Park Trust has let 10,000 sq ft to Oak Furniture Land at £52.50 psf on a 10-year lease. Next has also taken 11,100 sq ft at the retail park on the same terms. Edgerley Simpson Howe and Harvey Spack Field advised Standard Life on the lettings.