Asset Management firm Orchard Street Investment Management has bought a 152,467 sq ft retail park in Slough, Berkshire for £63m. The property was bought from Benson Elliot Capital Management who have owned the property since 2016, on behalf of St. James’s Place UK.
The retail park is the main furniture retail destination in the Slough area and it is fully occupied with stores such as ScS, Smyths Toys, Bensons for Beds and The Range. The retail park has an onsite car park with 546 parking spaces. The estimated total rental income per year is £3,603,195, which is the equivalent of £23,63 per sq ft.
Other benefits of this retail park are its location, its just 1.3 miles from the town centre of Slough and only 1.2 miles from the M4, so it’s in the perfect location to be seen and visited by passing customers.
A Partner from Orchard Street, Barney Row had this to say. “Slough has the fastest-growing population in the UK, an increasingly affluent South East catchment, connectivity to Crossrail from 2019, and major regeneration projects underway, all of which stand to benefit Slough Retail Park. The park is well-located and serves as the local area’s principal furniture destination, presenting a compelling investment proposition”
In 2019 Slough is also due to gain from the anticipated arrival of Crossrail (The Elizabeth Line). Which will provide access to the West end of London in just 30 minutes. Slough’s town centre is also undergoing regeneration with £900m being spent on residential redevelopment of the Queensmere Observatory shopping centre and another £450m spent on new commercial and residential district just on the edge of town.
