Hercules Unit Trust (HUT), the specialist retail park fund advised by British Land and managed by Schroders, is pleased to announce that Wilko has opened a 20,000 ft² (1.858 m²) store and Poundland has opened a 10,000 ft² (92 m²) store at the 575,000 ft² (53.419 m²) Parkgate Shopping scheme in Rotherham. The park is now fully let and both retailers have signed 10 year leases.
These deals follow a succession of sizable lettings at Parkgate Shopping, including Nike, USC and Blue Inc.
Matthew Reed, Senior Asset Manager for British Land,said: “We are delighted that Parkgate Shopping is now fully let, demonstrating the scheme’s appeal to a broad range of occupiers. The addition of Wilko and Poundland enhances the attraction of the park, delivers more brands to our shoppers, and helps drive footfall.”
Parkgate Shopping is one of the largest shopping parks in the UK, and contains many high street names, including Marks & Spencer, Outfit, Nike and River Island.
HUT also recently announced funding of £236,000 (€301,000) over two years to enable the FreeBee bus service which runs between Rotherham town center and Parkgate to remain free of charge. The service was launched in 2009 and is estimated to have carried more than 2.5 million passengers to date.
Smith Young and Cushman and Wakefield are the scheme’s lettings agents.