Slough: Retail park's new owners agree their first letting
The new owners of Slough Retail Park have signed their first letting since acquiring the shopping complex last year, to Wren Kitchens.
Cube Real Estate, asset manager to Benson Elliot, has exchanged contracts to let a 11,500 sq ft to the kitchen specialist, which will open later this year.
The retailer has signed a 10-year lease on Unit 5 with Cube Real Estate simultaneously accepting a surrender from Carpetright of its interest in the subject premises.
The letting has extended the term on the premises, achieved a higher rent, and also helped to bolster the retail park's position as a furniture destination.
Benson Elliot purchased Slough Retail Park from Standard Life Investments in November 2016 for £53 million. Cube Real Estate was instructed to asset-manage the scheme.
The 150,000 sq ft scheme, which fronts the A4 Bath Road immediately due west of Slough town centre is home to nine retailers in total including DFS, Harveys, ScS, Sofology, Smyths Toys and The Range.
Cube Real Estate was advised by Morgan Williams.
Source: CoStar
