The retail park, in Eccles, Greater Manchester, comprises 13 ‘big box’ retail units anchored by Lidl, The Range, McDonald’s, Subway, Home Bargains, The Food Warehouse, Jollyes Petfood Superstores, Pure Gym and Smyths Toys.
Frogmore purchased the scheme in April 2015. At the time of purchase it was 50% vacant; at the point of sale the park was 100% let.
“Having seen the opportunity to reposition West One from a fashion retail park to a discount retail park, we attracted big name retailers. Bringing in complementary businesses, including Pure Gym, a dentist practice and a chiropractic service brought the park to full occupancy,” said John Matthews, Senior Asset Manager.
Frogmore has been investing in UK real estate for over 60 years. Their portfolio spans multiple sectors including retail, office, residential, industrial and alternatives such as retirement park homes, student housing and data centres. Over the last 20 years, Frogmore has invested and sold over £7 billion worth of UK real estate across multiple sectors.
“We were delighted to have worked with M7 on this transaction, which is the 5th disposal within Frogmore’s Fund III,” commented Tim Allibone, Director of Asset Management. “Having met all the milestone objectives of the Business Plan, it was the right time to realise this asset.”
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For further information contact:
Vicky Ryce at YOU Agency
vicky@you-agency.com / +44 7715 698599
Notes to Editors
About Frogmore
Frogmore is a UK-focused, fully integrated real estate investment manager. Founded in 1961, Frogmore has 60 years’ experience of investing in UK commercial real estate. The firm specialises in income producing assets with active real estate asset management potential, property refurbishment and selective development opportunities; to drive performance in line with return expectations and risk limits.
Based in London with a team of 30 people, Frogmore carries out all aspects of origination, asset management, property development and debt finance in-house. The current senior team has vast experience and recognition in the marketplace; and has carried out over £7bn of transactions since 1995 through their strong network of relationships.
For more information about Frogmore, please visit www.frogmore.co.uk
Agents
Hamish Whiteman of Staunton Whiteman acted on behalf of Frogmore. For more information, please visit www.stauntonwhiteman.co.uk.
Paul Wilkinson of Avison Young acted on behalf of M7. For more information, please visit www.avisonyoung.co.uk.