Two Yorkshire retail schemes are benefiting from the upturn in occupier demand which has accompanied the economic recovery. Specialist retail park fund Hercules Unit Trust (HUT), which is advised by British Land, has today announced that its Parkgate Shopping scheme in Rotherham is now fully let following the arrival of Wilko and Poundland.
Wilko has taken a 20,000 sq ft unit and Poundland has agreed terms on a 10,000 sq ft store. Both have signed 10 year leases.
Commenting on the news Matthew Reed, Senior Asset Manager at British Land said; “We are delighted that Parkgate Shopping is now fully let, demonstrating the scheme’s appeal to a broad range of occupiers.
“The addition of Wilko and Poundland enhances the attraction of the park, delivers more brands to our shoppers, and helps drive footfall.”
A further bonus for Rotherham shoppers is that HUT has announced £236,000 funding to maintain the FreeBee bus service which runs between the town centre and Parkgate. The free of charge service was launched in 2009 and has carried over 2.5 million passengers to date.
Meanwhile Town Centre Securities (TCS) has announced that the final phase of the £50 million facelift of the Merrion Centre in Leeds will begin next year.
Since the beginning of the refurbishment a number of new tenants have taken up units along Merrion Way. The sizeable investment has also encouraged a number of existing tenants to renew or extend their leases.
During the final phase the Merrion House office building will be refurbished and extended at a cost of £30 million. The 12 storey property will have its exterior re-cladded and a glazed extension constructed, allowing it to offer a total of 170,000 sq ft of office space.
“We are delighted that alongside our brand new tenants, a number of our key occupiers have decided to commit themselves to the long term future of the centre,” said TCS chairman Edward Ziff.
With Kirsten Kennedy
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