The freehold investment of a 32,000 sq ft retail warehouse let to Wicks Building Supplies and Pets at Home has been acquired for London based REIT Glenstone Property PLC.
The property occupies an extremely prominent and well-established location on Crown Retail Park in Rushden, East Northamptonshire. The building occupies a 2.6 acre plot next to a 60,000 sq ft Waitrose/John Lewis super store and opposite the Crown Estate owned Rushden Lakes retail and leisure park, comprising some 500,000 sq ft of shopping and restaurant / leisure space.
London based Fulwell Capital acted for Glenstone, with Northamptonshire based commercial property consultants Prop-Search providing regional market evidence and advice.
Simon Toseland, director of Prop-Search commented; “It’s 27 years since we agreed the letting of this building to Wicks - then Focus DIY in 1994 - so it’s been satisfying to work on it again.”
“This region of Northamptonshire has seen and continues to see strong growth both in the residential and employment sectors. The urban extensions to Wellingborough, Rushden, Kettering and Corby combined with the existing and planned employment parks along with the huge success of schemes such as Rushden Lakes, significantly contribute to the area’s economic stability and prosperity.”
“This investment sits firmly in the mix - some would say, ‘centre stage’.”
Further information or advice can be obtained from Prop-Search - Tel: 01933 223300 or its website: www.prop-search.com