Gallagher Shopping Park was acquired in 3 phases with joint venture partners KKR between February and December 2014.
This catchment dominant park is located immediately adjacent to Junction 9 of the M6 motorway, to the north west of Birmingham. Adjacent retailers to be park include Decathlon, B&Q and IKEA.
The asset comprises 195,000 sq ft of retail warehouse and ancillary restaurant accommodation. The park already has a strong mix of high profile tenants including Next, TK Maxx, Outfit, Mamas and Papas, Boots, Furniture Village, SCS, Harveys, Currys, PC World, Burger King and Pizza Hut.
The asset management strategy is focussed on diversifying the retail fascia and adding additional brands to complement the strong existing line up. This is being facilitated by relocating and downsizing the Currys and PC World stores to release space for new tenants including M&S Simply Food, Oak Furniture Land, Sofology and Tapi. Planning having now been secured, development works are programmed from September 2016 to May 2017 to redevelop the units as well as amalgamating the car parks, building an infill unit between phase 1 & 2 and new restaurants pods for Costa, Smashburger, Mode Pizza and Nando’s. This will provide a more varied retail and food &beverage offer, increase dwell time and improve the overall customer experience when shopping at the park.