Quadrant completes flurry of deals at pair of retail parks

Real estate asset management and development company Quadrant has completed a number of deals on behalf of its retained client AshbyCapital at two retail park assets.

At Morfa Shopping Park in Swansea, JD Sports and TUI have now both arrived after agreeing new deals with Quadrant. JD Sports has taken a 10-year lease on a 10,000 sq ft store for its third location in Swansea, whilst TUI has taken a five-year lease on a 1,500 sq ft pod. Lease renewals have also been signed with EE and Card Factory.

Meanwhile at Abbotsinch Shopping Park in Paisley, Scotland, six new deals have been completed with existing retailers, all of which have taken 10-year leases. DFS has renewed on 25,000 sq ft of space, whilst Sofology and Dunelm each remain in their 20,000 sq ft units. Wren has re-signed for its 15,000 sq ft store whilst ScS and Dreams have renewed at their 10,000 sq ft and 5,000 sq ft stores respectively.

John Maddison, partner at Quadrant, said: “Relevant, well-located and well-managed retail parks remain popular amongst consumers who want to partake in physical shopping, be it for big-ticket items or simply an experiential day out with family and friends. These renewal deals reflect existing retailers’ strong performance and affordability at, and their continued confidence in, Morfa and Abbotsinch shopping parks, which remain dominant in their respective locations.”

Tom McCafferty, senior property manager at AshbyCapital, said: “We are pleased to welcome JD Sports and TUI to Morfa Shopping Park and to sign renewals with EE and Card Factory, as well as confirming the ongoing presence of DFS, Sofology, Dunelm, Wren, ScS and Dreams at Abbotsinch. Retail parks continue to outperform the wider retail sector and these deals are a testament to our strategy of focusing on the highest quality assets where we can create an appealing offer for consumers and drive performance through proactive asset management working with our partners at Quadrant.”

AshbyCapital purchased Morfa Shopping Park in 2015 and Abbotsinch Shopping Park in 2019. Quadrant is the asset manager for both retail parks.