AshbyCapital has completed a flurry of leasing deals at Morfa Shopping Park in Swansea and Abbotsinch Shopping Park in Paisley.
At Morfa Shopping Park, JD has taken a 10,000 sq ft unit on a 10-year lease and TUI has taken a five-year lease on a 1,500 sq ft pod. Lease renewals have also been signed with EE and Card Factory.
At Abbotsinch Shopping Park (pictured), six new deals have been secured with existing retailers on 10-year leases. DFS has renewed on 25,000 sq ft; Sofology and Dunelm have both renewed on a 20,000 sq ft unit; Wren has re-contracted for 15,000 sq ft; ScS has kept a 10,000 sq ft unit; and Dreams has renewed for a 5,000 sq ft unit. The average rental uplift across these deals was nearly 20%.
Tom McCafferty, senior property manager at AshbyCapital, said: “We are pleased to welcome JD Sports and TUI to Morfa Shopping Park and to sign renewals with EE and Card Factory, as well as confirming the ongoing presence of DFS, Sofology, Dunelm, Wren, ScS and Dreams at Abbotsinch. Retail parks continue to outperform the wider retail sector and these deals are a testament to our strategy of focusing on the highest quality assets where we can create an appealing offer for consumers and drive performance through proactive asset management working with our partners at Quadrant.”
John Maddison, partner at Quadrant, which is the asset manager for both retail parks, added: “Relevant, well-located and well-managed retail parks remain popular amongst consumers who want to partake in physical shopping, be it for big-ticket items or simply an experiential day out with family and friends. These renewal deals reflect existing retailers’ strong performance and affordability at, and their continued confidence in, Morfa and Abbotsinch shopping parks, which remain dominant in their respective locations.”
