Newly-developed Leeds retail park changes hands
A retail park in Leeds which opened in September 2024 has been acquired by an institutional investor for an undisclosed sum.
Located on the Middleton Ringroad, St Georges Retail Park was placed on the market at the end of last year with an asking price of £18m.
The scheme – developed by a partnership between Rothstone Estates and Marshall CDP – has seen the transformation of a six-acre brownfield site into a retail-led destination with a gross internal area of 64,311 sq ft. It is also supplemented by a 275-space car park.
Businesses at the retail park include B&M, Aldi, McDonalds, Costa, Greggs, Subway, Harrison Family Vets, Card Factory, The Extra Care Charitable Trust, Sbarro and Vendor Guarantee. As of October 2024, the scheme had a weighted average unexpired lease term of 15.1 years to expiry and 13.1 years to break.
Other nearby retailers include Asda and Iceland.
TW Keil acted for the purchaser. Mason Partners and Savills acted for the vendors Rothstone Estates and Marshall CDP.