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

ESH has advised Columbia Threadneedle Investments on agreeing 2 new lettings to Farmfoods and Starbucks in the former Argos on Ringwood Road Retail Park in Bournemouth. Farmfoods have taken a new 15 year lease and Starbucks a 10 year lease. These new occupiers have joined Home Bargains, Sports Direct and TK Maxx on the scheme.

For further information please contact Chris Fenton

TK Maxx opened their new store on Banbury Gateway Shopping Park in October. The former Outfit unit extends to 10,000 sq ft with a full cover mezzanine. TK Maxx have relocated from the town centre. We have also undertaken recent lettings to Greggs, TUI and Claires.

An exciting retailer will be coming to the Shopping Park next year.

ESH act on behalf of The Crown Estate along with our joint agents Park Place Retail.