Regional overview

Our Regional Retail Portfolio is valued at £2.3 billion, with investments principally in the retail sector, an area where we are specialist property managers. The portfolio also includes a range of industrial and office premises.

MK1 Shopping Park
Victoria Retail Park Nottingham
Prime regional assets

Our regional portfolio includes 14 retail parks, three shopping centres, two leisure destinations. It includes Leicester's Fosse Shopping Park, Oxford’s Westgate Centre, Exeter’s Princesshay and Worcester’s CrownGate Centre. We are the UK’s third largest owner of directly owned shopping parks.

We continue to invest. The new 280,000 ft2 Banbury Gateway Shopping Park – completed in 2015 with our partner LXB – and quickly established itself as a major new fashion and shopping destination in the region. Located within easy reach of Banbury, Daventry and Oxford, the park includes a wide range of top flight brands, including Topshop, Oasis, Marks & Spencer and River Island, together with food and drink outlets such as Starbucks, M&S Café and Ed’s Easy Diner. The development of the park has provided nearly 800 employment opportunities in retail and hospitality.

£2.3 billion

Value of our Regional Retail portfolio

3rd largest owner

In the UK retail park sector

£345.5 million

Purchase of Fosse Shopping Park, Leicester

We have committed to funding the development of the £140 million Rushden Lakes shopping and leisure scheme in Northamptonshire. Another partnership with LXB, the scheme promises to be a unique new concept in out-of-town retail and leisure, delivering 400,000 ft2 of new retail and restaurant accommodation, together with leisure facilities for activities such as canoeing and wakeboarding, and a visitor centre.

At Westgate in Oxford we are on site – in partnership with Land Securities – to deliver our single biggest retail scheme to date following more than four years of preparation, extensive public consultation and the approval of a reserved matters application by Oxford City Council. Westgate will totally transform the retail and leisure experience in Oxford – providing over 100 new stores, 25 restaurants and cafes, a boutique cinema, roof-top terrace dining and a wealth of new public spaces – and stand out as one of the best schemes of its kind in the UK.

In Newcastle we are on site with the £29 million redevelopment to transform the site opposite our Silverlink Park into a 106,000 ft2 scheme for four new retail units. At Fosse Park in Leicester we reached conditional agreement to buy the 12.5 acre Castle Acres site and transform it into a 150,000 ft2 retail and leisure development. In Exeter, the ambitions of the Princesshay Partnership, which comprises The Crown Estate and TH Real Estate, to add leisure facilities to the Princesshay shopping centre in received outline consent at the beginning of 2016.

While our regional investments are predominantly in the retail and leisure sectors, a smaller exposure to office and industrial properties also plays a role in helping us deliver on our financial objectives. Within these holdings we own offices in Birmingham and Cambridge plus a number of industrial estates.

In 2015 we also rolled out Recruit Regional across our Regional Retail Portfolio, connecting local unemployed people with employers at our major regional retail parks.