Columbia Threadneedle Real Estate, the real estate investment and asset management specialist of Columbia Threadneedle Investments, has acquired Parkgate Shopping Park in Rotherham on behalf of client funds for an undisclosed sum.
Parkgate is one of the top five largest retail parks in the UK, comprising approximately 406,000sq ft of retail warehouse and restaurant space on a 40.6-acre site with c2,250 free parking spaces. Anchor tenants include Primark, Currys, Next, Poundland, Wren and Matalan with an adjacent Morrisons superstore, alongside a further c40 retail and restaurant units that range in size from 1,500 to 45,000sq ft.
Parkgate attracts more than 8 million visitors per annum and is poised to benefit from the opening of a new 45,000sq ft owner occupied Frasers store in Q1 2024 and the completion of the spine road extension linking it with the A6123 to the east in May 2024.
Columbia Threadneedle Real Estate will draw upon its experience and standing as one of the UK’s largest retail warehouse owners to reenergise Parkgate, enhance the tenant mix and maximise its potential to become a best-in-class UK retail destination.
A spokesperson for Columbia Threadneedle Real Estate commented: “We are delighted to add Parkgate to our extensive retail warehouse portfolio that now totals some 10 million square feet. By utilising our existing strong retailer relationships, we see real opportunity to maximise Parkgate’s potential both for retail and restaurant operators and customers, taking its place as a leading shopping and leisure destination befitting of its scale and regional dominance.”
ESH acted for the purchaser and Staunton Whiteman represented the vendor.
