The Gibraltar Limited Partnership (which is 50% owned by the Hercules Unit Trust (HUT) and 50% owned by The Crown Estate) is pleased to announce six new lettings at Gallagher Retail Park in Cheltenham which have taken occupancy at the park to 99%.
HomeSense has chosen Gallagher Retail Park as the location for its first store in Cheltenham with a 1,750 ft² (163 m²) unit taken on a 15 year lease. Oak Furniture Land is also taking an 18,000ft² (1,672 m²) store on a 10 year lease.
Complementing these deals and enhancing the food and beverage provision are Costa (149 m², 10 year lease); Greggs (116 m², 5 year lease); and Subway (111 m², 15 year lease). Arcadia will also open a new 25,000 ft² (approx. 2322 m²) Outfit store on a 10 year lease bringing Topshop, Topman, Dorothy Perkins, Burton, Miss Selfridge, Oasis and Warehouse brands to the park for the first time. The existing occupier, BHS, will relocate onto the mezzanine floor.
In addition to the new retail and food and beverage signings, the park is also undergoing a £2.5 mln (approx. €3.15 mln) upgrade which includes the refurbishment of terraces across the asset as well as landscaping and car park reconfiguration works to further enhance the attraction of the park. The works to the scheme and new retailers will open by the end of August except Outfit which opens on 18 September.
James Varley, Asset Manager for British Land, said: “These latest lettings are further proof of the attraction and success of the park. We are delighted to further improve the tenant mix to deliver an enhanced shopping experience to consumers. The upgrade is part of our wider investment programme designed to ensure that our assets continue to meet the needs of our retailers and consumers.”
Gallagher Retail Park is also home to a 27,000 ft (approx. 2,508 m²) Whole Foods Market, its first store on a retail park and one of the first Patisserie Valerie cafes in a Next store.
Source: British Land