ESH, acting for Columbia Threadneedle, are delighted to have assisted in welcoming the latest phase of occupiers to the ever-improving roster at Parkgate Shopping in South Yorkshire.  The Easter weekend saw the combined openings of both Wilko (with 100+ customers queuing for its grand opening!) and a fully refurbished and extended 70,000 sq ft+ unit for Frasers Group who have brought in Sports direct, USC, Everlast and Game under one, hugely impressive, roof.

Several new lettings, upsizes and relocations are either agreed or in legals and will be announced shortly as 2024 looks set to be a landmark year for this busy regional shopping destination.

Edgerley Simpson Howe have advised London & Cambridge Properties (LCP) on a new letting to Oak Furnitureland who took the former Argos unit at M Park Alexandra. The 10,000 sq ft showroom is Oak Furnitureland’s first new showroom in three years and they have signed a 10 year lease on the Park joining occupiers including Matalan, SCS, Food Warehouse, Pets at Home & Poundstretcher. One remaining unit of 35,000 sq ft is currently under offer.

Any enquiries please contact Henry Phipps.

Columbia Threadneedle Investments, represented by ESH, have purchased the dominant Parkgate Shopping Park in Rotherham. The park spans over 40 acres and makes up the 2^nd largest purpose-built retail warehouse park in the UK, let to 41 tenants at an average retail rent of approximately £16 per sq ft.

The purchase completed in January 2024 reflecting a Day 1 NIY of 11.25%, reversionary yield of 9.5% (based on an average retail rent of £12 psf). The capital value breaks back to c. £130 psf.

Retailer trading on the park is very strong with excellent retailer feedback and compelling Visa transaction data, comparable to other regional schemes in the country.

For further details of the investment please contact the ESH investment team. For letting enquiries please contact Adam Patrick or Chris Fenton of the ESH agency team.

Savills IM, represented by ESH, have disposed of the Waitrose in Kings Hill, Kent to a private overseas investor. The foodstore was held for 9 years and the lease regeared and extended prior to sale. The property is a 9,058 sq ft standalone purpose built foodstore let to Waitrose at c.£19.87 per sq ft until August 2038. Ward Properties and Trefilik & Co were joint agents for the purchaser.

ESH, on behalf of a client, has disposed of Hampden Park in Eastbourne to a private investor. The property is a 27,621 sq ft standalone purpose-built retail park terrace let to Currys and DFS for a WAULT of 7.3 yrs to expiry and 4.8 yrs to break. Parkdales acted for the purchaser.

Following the opening of leading pet retailer Jollye’s at the end of November, Aldi have joined them also opening their doors last week.

They join the likes of Premier Inn, Costa, Nandos, Wren Kitchens and others already trading.

Edgerley Simpson Howe are proud to have acted for Abrdn on these lettings, working alongside our joint agent Fi Zeitlyn

For further details please contact Tim Hornor or Adam Patrick