New owner for retail park plagued by traffic as property giant seals £8m deal
A Traffic-plagued retail park which is home to big-name brands including B&M and Halfords has been sold off in a multi-million pound deal.
Springfields Retail Park, in Trent Vale, has been snapped up by Manchester-based property company Glenbrook Investments for £8 million.
The near seven-acre site which also includes Food Warehouse, Pets at Home and Mcdonald’s has come under fire in the past for traffic problems and antisocial behaviour.
The concerns followed plans by fast-food giant KFC to open a new branch at the retail park.
Now the new owners have revealed they are looking to ‘improve’ the site to benefit shoppers and new and existing tenants.
Glenbrook investment manager Scott Griffiths said: “Springfields Retail Park benefits from both prominence and convenience, with a complementary line-up of successful retailers perfectly aligned to the needs of its catchment.
“Among other attractive features, the scheme offers a low average rent providing affordability, downside protection and a solid platform from which to grow rents as the market recovers.”
Mr Griffiths added: “We have a clear asset management strategy and we will now be implementing this to improve the performance of the scheme for the benefit of shoppers and the tenants, with a view to maximising the scheme’s potential.”
Springfields Retail Park currently has one vacant unit
– the former Carpet Right store – which is currently on the market.
Supermarket-giant Aldi also plans to relocate from the site to the former Evans Halshaw car showroom down the road.