New owner for re­tAil pArk

Peter­bor­ough Gar­den Park sold to prop­erty man­agers

The Peterborough Evening Telegraph - - News - By Paul Grin­nell paul.grin­ Twit­ter: @PTPaulGrin­nell

A prop­erty man­age­ment com­pany has just bought the award-win­ning Peter­bor­ough Gar­den Park for an undis­closed sum. The 91,598 sq ft re­tail park in EyeRoad­has­been­snappedup by Nor­wich-based com­mer­cial prop­erty in­vest­ment, de­vel­op­ment and man­age­ment com­pany, Tar­get­fol­low.

Now the new own­ers are promis­ing am­bi­tious plans to en­sure that traders on the park con­tinue to blos­som.

Tar­get­fol­low’s chief ex­ec­u­tive Corin Tho­day said: “We are thrilled to an­nounce our ac­qui­si­tion of Peter­bor­ough Gar­den Park.

He said: “We look for­ward to work­ing with cur­rent and new re­tail­ers to de­velop the site into a top UK re­tail, so­cial and leisure des­ti­na­tion.

Mr Tho­day added: “Our team is work­ing hard on ex­cit­ing plans and ini­tia­tives for the site and we will bring our ex­pe­ri­ence and ex­per­tise inthere­tail­sec­tor­toPeter­bor­ough Gar­den Park to sup­port thetrader­sand­helpthem­con­tinue to flour­ish.”

There­tail parkis­setwithin an18.5acre­site whichthe­new own­erssay­will­provideop­por­tu­ni­ties for fur­ther de­vel­op­ment in the fu­ture.

The park is cur­rently an­chored by the Van Hage Gar­den Cen­tre and is let to a num­ber of other re­tail­ers, which in­clude Cotswold Out­door, Ro­mans, Pavers andThe Works.

Peter­bor­ough Gar­den Park was built in 2010 and with its dis­tinc­tive ar­chi­tec­ture and land­scap­ing, it has­wonas­tring of pres­ti­gious awards.

These in­clude the Revo Gold Award for ‘Best Out-ofTownRe­tailSchemeintheUK’ and the Gar­den Cen­tre As­so­ci­a­tion’s ‘Best Gar­den Cen­tre - Mid­lands’.

Com­mer­cial agents Sav­ills ad­vised the seller through what has been de­scribed as a com­pet­i­tive sales process and Carter Jonas ad­vised Tar­get­fol­low on the trans­ac­tion.

The pur­chase is a sig­nif­i­can­tad­di­tion­toTar­get­fol­low’s grow­ing prop­erty port­fo­lio.

Witha­dy­nam­i­cas­set­man­age­ment ap­proach, they have achieved suc­cess with other as­sets in at­tract­ing new re­tail of­fers, de­vel­op­ing com­pre­hen­sive ac­tiv­ity and events pro­grams, util­is­ing tech­nol­ogy and in­creas­ing foot­fall.

Tar­get­fol­low Group was es­tab­lished in 1991 and spe­cialises in the ac­qui­si­tion and man­age­ment of in­vest­ment and de­vel­op­ment prop­er­ties.

M r T h o d ay said: “Tar­get­fol­low own­s­theUp­per Pan­tiles in Tun­bridge Wells which we have in­vested in sig- nif­i­cantly.

“Werunap­prox­i­mately100 events a year which cre­ates sig­nif­i­cant brand pro­file and foot­fall, the re­sult of which is that the Up­perPan­tile­sis fully let and trad­ing very suc­cess­fully.

“We will bring this ex­pe­ri­ence and ex­per­tise to Peter­bor­ough Gar­den Park to sup­port the traders and help them con­tinue to flour­ish.”

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