Regional retail

We manage high profile retail and leisure schemes across the UK, in a portfolio valued at £1.9 billion.

Our schemes are generally in regionally dominant locations where we believe the long-term supply and demand dynamics are most favourable, and include some 14 retail parks, three shopping centres, two leisure destinations providing retail space across the country, comprising hundreds units for tenants including Marks and Spencers, Mothercare, Next and Toys R Us.

Our properties include 50 per cent interests in Westgate Shopping Centre in Oxford, Fosse Shopping Park in Leicester and Princesshay Shopping Centre, Exeter.

We take a long-term view to enhancing the value of our properties through active asset management, investment and development. Crucial to this is our focus on relationships with customers, and a partnership approach with retailers and local communities that is both professional and productive.

Below are several highlights from our portfolio which demonstrate our investment strategy.

Fosse Shopping Park, Leicester

In 2014 we took a 50 per cent stake in the £345.5m Fosse Shopping Park in partnership with Gingko Tree Investment Ltd. We manage the asset on behalf of the partnership.

Fosse Park attracts over eight million shoppers a year and at 560,000 ft2 is one of the largest in the UK. Current tenants include: M&S, GAP, New Look, Clarks, Boots, Next, River Island, Argos, DFS, Thorntons and Costa Coffee.

In 2015/16 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.

Westgate Shopping Centre, Oxford

We acquired the 30,000 m2 (320,000 ft2) Westgate shopping centre in Oxford in 2010 and soon after established a 50:50 joint venture partnership with Land Securities known as the Westgate Alliance.

The partnership actively manages this asset, and we are now on site aiming 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.

Silverlink Shopping Park, Newcastle

Purchased for £131 million in 2013 from LaSalle Investment Management. Silverlink is one the country's most successful parks and offers 202,000 ft with tenants including Marks and Spencers, River Island, Next, New Look and Arcadia.

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.

Princesshay Shopping Centre, Exeter

We are joint owners of this 530,000 ft2 city centre project with TIAA Henderson Real Estate (TH Real Estate). Princesshay is the premier retail and leisure destination in the south west of England, offering a wide range of shopping and dining options, including leading brands such as Topshop, Topman, River Island, New Look, Apple and Joules, as well as restaurants including Jamie’s Italian, Byron and Carluccios.

In 2015/16 we attracted a series of new retail brands, including Smiggle, Tiger and Fat Face, and achieved outline planning permission for a new £75 million leisure scheme.

Coliseum Shopping Park, Cheshire Oaks

We announced the purchase of Coliseum for £81 million in 2013.

The 13,500 m2 (145,000 ft2) shopping park was purchased from clients of Schroders plc. It is one of the most popular retail schemes in the northwest, offering a diverse tenant mix including Next, Argos, H&M and Mamas & Papas. 

The Gate, Newcastle

Purchased from investor clients of Delancey, the Royal Bank of Scotland for £60m in 2012, The Gate is the only covered leisure scheme in Newcastle. It comprises 18 units and spans 19,500 m2 (210,000 ft2). The venue is anchored by an Empire cinema and current occupiers include Nandos, The Restaurant Group, Pizza Hut and J D Wetherspoons.