Columbia Threadneedle acquires Rotherham retail park
Columbia Threadneedle Real Estate, the real estate investment and asset management arm of Columbia Threadneedle Investments, has acquired Parkgate Shopping Park in Rotherham for an undisclosed sum.
The 406,000 sq ft asset is one of the UK’s top five largest retail parks, sitting on a 40.6-acre site with around 2,250 free parking spaces. Anchor tenants at the scheme include Primark, Currys, Next, Poundland, Wren, and Matalan, as well as an adjacent Morrisons supermarket.
Parkgate Shopping Park welcomes over 8 million visitors a year and is set to benefit from the arrival of a new 45,000 sq ft owner-occupied Frasers Store in Q1 and the completion of the spine road extension to link it to the A6123 in May.
A spokesperson for Columbia Threadneedle Real Estate said: “We are delighted to add Parkgate to our extensive retail warehouse portfolio that now totals some 10 million square feet. By utilising our existing strong retailer relationships, we see real opportunity to maximise Parkgate’s potential both for retail and restaurant operators and customers, taking its place as a leading shopping and leisure destination befitting of its scale and regional dominance.”
ESH acted for Columbia Threadneedle, whilst Staunton Whiteman represented the vendor.