Frogmore completes retail park sale to M7

M7 has completed a £27.5m deal to buy West One Retail Park in Greater Manchester from Frogmore. The 150,000 sq ft retail park, located in Eccles, comprises 13 “big box” stores. These are anchored by Lidl, The Range, McDonald’s, Subway, Home Bargains, The Food Warehouse, Jollyes Petfood Superstores, Pure Gym and Smyths Toys. Frogmore initially bought the location for around £17.8m in April 2015. At the time of purchase it was 50% vacant; at the point of sale the park was 100% let. The sale represents the fifth disposal within Frogmore’s Fund III. John Matthews, senior asset manager at Frogmore, said: “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.” Tim Allibone, director of asset management, said: “Having met all the milestone objectives of the business plan, it was the right time to realise this asset.” To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews Photo: Frogmore