AshbyCapital refinances £83m retail park trio
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Private equity real estate firm AshbyCapital has secured £82,445,000 of debt refinancing for a trio of retail parks from Deutsche Hypo – Nord/LB Real Estate Finance.
The loan has a term of three years and secured against Abbotsinch Retail Park, Glasgow, Westside Retail Park, Guiseley, Leeds, and Morfa Retail Park, Swansea. All three assets are fully let.
Abbotsinch Retail Park extends to over 265,000 sq ft and is fully let to 14 tenants including furniture and homeware retailers. The asset – which was acquired by AshbyCapital in 2019 – is supplemented by a 1,098-space car park and is well-connected to the surrounding area via strong transport links.
Also acquired by AshbyCapital in 2019, Westside Retail Park comprises 13 units across 121,101 sq ft of retail space, and is let to retailers from homeware and fashion to electronics. The retail park is supported by 513 parking spaces.
The 256,399 sq ft Morfa Retail Park is the premier retail park in Swansea and is home to 18 units, which are let to a mix of fashion, electronics and bulky goods retailers, as well as restaurant operators. The retail park – which is adjacent to the Swansea.com Stadium – was acquired in 2015 and offers 1,042 parking spaces.
Independent UK real estate asset management and development company Quadrant is asset manager for all three parks.
Chris Peel, senior director at Deutsche Hypo – NORD/LB Real Estate Finance, said: “These retail parks are characterised by strong occupancy, stable incomes and optimal connections to local and long-distance transport giving a large customer base. We are delighted about the successful cooperation with AshbyCapital and Laurus Property Partners to close this financing transaction.”
Charles-Etienne Lawrence, investment director at AshbyCapital, added: “It’s great to be expanding our relationship with Deutsche Hypo who have been excellent and reliable partners to our business. This successful refinancing is a testament to the fact the capital markets are still liquid and well-functioning for strong assets and well capitalised sponsors.”
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![](https://news.completelyretail.co.uk/wp-content/uploads/2024/07/Morfa-scaled-1-1024x683.jpg)