Gatehouse Group Facilitates the Acquisition of a 176,000 sq. ft. Retail Park near Chester
LONDON - 31 January 2018
Gatehouse Financial Group, incorporating Gatehouse Bank in London, has arranged the acquisition of Greyhound Retail Park Phase II in Chester from Landsec in a corporate transaction.
The c.176,000 sq ft park is fully let to 12 tenants, including John Lewis and Asda and forms the dominant element of the 800,000 sq ft regional retail offer at Sealand Road, around two miles to the west of the city centre. The critical mass of retail and excellent accessibility of the location supports a strong trading profile for the retailers, whilst there are proposals for significant residential development on sites adjacent, in conjunction with improvements to the existing road network.
Landsec were advised by Cushman & Wakefield and Westmount Real Estate and Staunton Whiteman provided sector specialist advice on the transaction.
Charles Haresnape, CEO of Gatehouse Bank said:
“This transaction shows how the Gatehouse Financial Group can achieve success for investors by combining the real estate investment expertise of Gatehouse Bank with the investor placement expertise of Gatehouse Capital within the GCC.
Our clients continue to view UK real estate as a strong investment asset class and this will be a continued focus for Gatehouse Financial Group during 2018. They are looking for stable, yielding assets, and Greyhound is the first of several income-generating investments which we plan to facilitate throughout the remainder of the year.”