Europa Capital and Ediston have successfully pre-let the last remaining unit at Gateway Retail Park in Plymouth to Wren Kitchens. All of the planned retail units are now pre-let, ahead of the development’s practical completion in June 2018.
Located in the Marsh Mills area, this new retail development will comprise a 50,000 sq. ft. retail terrace let to Wren Kitchens, Mothercare, Tapi and Sofology, along with two ‘drive-thru’ units, let to KFC and Costa Coffee. This retail warehouse park benefits from immediate access onto the A38, one of the main roads into Plymouth.
James Fortescue, Partner at Europa Capital, said: “We are pleased to have fully pre-let this asset and feel this demonstrates the strength of the location and the quality of our prospective development.”
Alastair Dickie, of Ediston Real Estate, added: “We were confident on acquisition that there would be strong demand from national retailers looking for a presence in Plymouth. These successful pre-lettings reflect the strong relationships we have built up with occupiers in the retail warehouse sector with our partner Europa Capital.”
Europa Capital and Ediston were advised by Harvey Spack Field.
For further information, please contact:
Gordon Simpson/Elizabeth King, Finsbury: + 44 20 7251 3801
Notes to Editors:
About Europa Capital
Europa Capital is a real estate fund manager focused on European markets. We add value utilising a variety of strategies implemented through active asset management, change of use or refurbishment and development in all property classes across Europe.
Since 1995, Europa Capital has collectively raised nine real estate funds and committed to over 105 transactions totalling more than €9.5 billion across 19 European countries.
We are a member of Rockefeller Group International (RGI), a subsidiary of Mitsubishi Estate Co., Ltd. RGI is a strategic investor alongside management in Europa Capital’s investment management business.
Ediston Real Estate is a UK property company based in Edinburgh with assets under management in excess of £650 million.
The company focuses on both investment and development, and has a track record of buying sub-standard, well located properties and transforming them into prime institutional quality investments.
Ediston has been actively investing throughout the UK since 2009/2010, through the Ediston Opportunity Fund with Europa Capital and with newly raised funds through the Ediston UK Real Estate Trust, launched in 2012.
Further information can be found at www.ediston.com.