Europa Capital in partnership with Sovereign Centros has signed an agreement for lease with JD Sports and a lease renewal with Wilko at One Stop Shopping Centre in Perry Barr, Birmingham. Two further lettings are expected to complete shortly.
JD Sports, the sports fashion retailer, has signed a 10-year lease on a unit extending to 5,430 sq. feet, with a tenant only break at year five. It is understood that the retailer will be introducing a new brand to the store which is being fitted out in time for an opening in July 2017. In addition, Wilko, the variety discount retailer, has renewed their existing lease on a 25,000 sq. feet unit for a further five years.
Rob Sim, Partner and Head of Northern Europe at Europa Capital, commented: “The letting to JD Sports introduces one of Europe’s leading sports fashion retailers to One Stop Shopping Centre, while the lease renewal to Wilko confirms the strength of trading at the centre. There is further letting activity soon to be concluded which will further enhance the retail offer.”
Commenting on the transaction, Simon Phipps, Director at Sovereign Centros, said: “We have exciting plans for One Stop Shopping Centre, which sits within an area of Birmingham undergoing significant investment. We have spent the last few months talking to retailers about our plans and there are several deals now coming to fruition.”
The Europa Capital and Sovereign Centros partnership acquired One Stop Shopping Centre and adjacent retail park in December 2016. The 380,000 sq. feet asset is three miles from Birmingham city centre, and sits on a site of 28 acres and was constructed in 1990. Other key retailers include Asda, Marks and Spencer’s, Nike, Argos, Boots, New Look, Arcadia, and Home Bargains.
ENDS
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 totaling 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
