Leading real estate property investment manager PRUPIM has today announced one of the biggest out of town lettings of 2009 at its Cribbs Causeway Retail Park a 70,000 ft² (approx. 6,500 m²) multi-unit space to DSG Retail Ltd trading as Currys Megastore. PRUPIM and Capital Shopping Centres who jointly own the retail park have agreed to let units 1-4 to DSG Retail Ltd for 15 years.
"This new letting marks the beginning of a phase of master planning for the retail park, as the existing leases approach expiry. It also reinforces Cribbs Causeway Retail Park as one of the most well-positioned out-of-town retail parks in the south west," said Tim Hayns, Director of Asset Management at PRUPIM.
The 70,000 ft² space will be occupied by a Currys Megastore which is expected to be ready in time for trading by Christmas 2009.
Located adjacent to the M5 and close to The Mall at Cribbs Causeway regional shopping center, Cribbs Causeway Retail Park is 245,000 ft² in size and currently has nine retailers at the site.
The joint agents for PRUPIM are Hartnell Taylor Cooke and Cushman & Wakefield and Colliers CRE advised DSG Retail Ltd.