Parkgate Shopping sold to new owners

by Admin

Parkgate Shopping has new owners after it was sold for an undisclosed fee

Columbia Threadneedle Real Estate, the real estate investment and asset management arm of Columbia Threadneedle Investments, has acquired Parkgate Shopping for an undisclosed sum.

Parkgate was listed up for sale in 2023 by previous owners BMO Real Estate Partners, with a guide price of £80m, less than half of the £175 million paid in 2015.

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.

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.”

Anchor tenants at the scheme include Primark, Currys, Next, Poundland, Wren, and Matalan, as well as an adjacent Morrisons supermarket.

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