Frasers Group acquires Scottish retail park
Frasers Group has acquired Waterfront Retail Park in Greenock, Scotland from HKIP for an undisclosed fee.
Situated within the town centre, the scheme extends to over 90,000 sq ft of retail warehousing and drive-through space and is let to tenants including Currys, Halfords, and Pets at Home.
The acquisition comes after the retail park became 100% let, after Farmfoods agreed a long-term lease on the former SCS unit. This finalised HKIP’s asset management program, which saw the property investment company add occupiers such as JD Gyms, Home Bargains, Costa Coffee, and Pizza Hut to the scheme during its ownership.
Knight Frank acted for HKIP, whilst Sims Retail acted on behalf of Frasers Group.
This transaction was Knight Frank’s second sale to Frasers Group, following the retail group’s recent acquisition of Rose Street Retail Park in Inverness.