Quadrant Estates secures new tenant for Great Western Retail Park, Glasgow
Oak Furnitureland takes 10,000 sq ft Unit
Quadrant Estates, asset manager for Great Western Retail Park, Glasgow has secured a new tenant for the park. Oak Furnitureland has taken a 12 year lease on a 10,027 sq ft unit at a rent of £23.00. The company commenced trading in mid November.
Quadrant Estates was appointed asset manager of the 250,000 sq ft retail park in June this year, following the acquisition of the park by KKR, advised by Quadrant Estates.
Christopher Daniel, Director of Quadrant Estates said:
“It is good to get up and running in securing new tenants this early on. We have a clear strategy for improvements to the retail park, both in tenant mix and physical improvements, which we plan to roll out over the next two years.”
Great Western Retail Park is located in a prime location approximately six miles north west of Glasgow City Centre and is accessible by car and train. It comprises 250,000 sq ft of retail warehousing with parking for 1,375 cars. The park is close to fully let and has a strong retail mix with tenants including J Sainsburys, B&Q Warehouse, Currys / PC World, Harveys, SCS, Wren Kitchens and Carpetright.
KKR acquired three retail parks totalling 430,000 sq ft from Resolution Property in June this year. Along with Great Western Retail Park, the company acquired Templars Shopping Park in Oxford and a site in Sunderland.
Jones Lang LaSalle and Smart 4 acted for the landlord. Oak Furnitureland was unrepresented.
About Quadrant Estates
Quadrant is a private property development and investment company founded in 1997. Its strategy is to generate strong investor returns through intelligent asset selection and effective asset management. The company is acting as development and asset manager on a 2 million sq ft development pipeline valued in excess of £1 billion, including the 230,000 sq ft Moorgate Exchange, the 100,000 sq ft 100 Cheapside and the 135,000 sq ft Carmelite developments in Central London, the 1.25m sq ft Eureka Business Park, Ashford, the 450,000 sq ft mixed use development at Trafalgar Wharf, Portsmouth Harbour and the 130,000 sq ft Turner Rise Retail Park in Colchester. www.quadrantestates.com
Rebecca Cockman Goodford
01491 638 118 / 07771 548 999