Europa Capital and Sovereign Centros have successfully leased a 4,400 sq. ft. unit in Corby Town Centre to The Entertainer, the UK toy retailer. The Entertainer signed a 10-year lease at Queens Square in the heart of Corby Town Centre. The premises are being created from existing shell units and will shortly be ready for tenant occupation, with opening planned for the Autumn. The letting follows the recent lease re-structuring with H&M at Willow Place, who doubled the size of their store and TK Maxx who signed a new 15-year lease.
James Brodie, Director at Europa Capital, said: “We are pleased to have secured The Entertainer for Corby Town Centre. The retailer fills a gap in our tenant mix and will further consolidate the asset as the dominant retail destination in Corby. This is an important part of our plans to improve the asset. In addition, a planning application has been submitted for 20,000 sq. feet of retail space and a 471 space surface car park to replace the existing, outdated multi-storey car park to the east of Queens Square and Market Walk. Works are scheduled to start later in 2017.”
Simon Phipps of Sovereign Centros added: “This latest letting introduces a well-established and successful toy retailer and will create a popular entranceway from the eastern side of the town. It demonstrates retailers’ confidence in the growth of Corby. In July a lease was also signed with Co-Op Funeralcare to occupy a 1,250 sq foot unit within New Post Office Square, at the link between Oasis Retail Park and Corby Town Centre.”
Corby Town Centre was acquired by Europa Capital and Sovereign Centros in March 2015. The shopping centre comprises 800,000 sq feet, including 146 retail units, plus offices and residential accommodation. It is anchored by Primark, H&M, TK Maxx, Wilko and Boots. Other key tenants include River Island, New Look, Dorothy Perkins/Burton, JD Sports, Clarks, Costa Coffee and Peacocks. Corby is one of the fastest growing towns in England with over 28,000 new homes expected to be built by 2020. The town offers excellent road and rail communications, with a direct rail service to London St Pancras within 1hr 10 minutes. Footfall within Corby continues to outperform the national benchmark and is currently averaging approximately 8.0 million visitors each year.
Savills and Wright Silverwood advised Europa Capital and Sovereign Centros. Reid Rose Gregory advised The Entertainer.
For further information, please contact:
Gordon Simpson/ Elizabeth King, Finsbury: +44 20 7251 3801
About Europa Capital:
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors.
Since 1995, Europa Capital has collectively raised 9 real estate funds and committed to over 105 transactions totalling more than €9.5 billion across 19 European countries.
The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Europa Capital is a member of Rockefeller Group International, Inc. (“RGI”). RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
Further information can be found at www.europacapital.com
