Standard Life bags Decathlon at Gallions Reach

By Paul Norman - Friday, September 08, 2017 13:20

The Standard Life Investments UK Retail Park Trust has signed Decathlon for a store at Gallions Reach, London’s largest shopping park.

Decathlon has taken 8,760 sq ft adjacent to New Look and H Samuel, on a 15-year lease and will open to the public later this year. Decathlon opened its first UK store in 1999 and will expand to 38 stores by the end of this year.

Standard Life Investments will upgrade the façade of the unit in advance of handover to Decathlon and as part of an ongoing refurbishment programme at the park.

Meanwhile, Smyths Toys has renewed the lease on its 15,000 sq ft unit, also on a 15-year term.

Sandy Pringle, Fund Manager of the Standard Life Investments UK Retail Park Trust, said: “This letting demonstrates the strong appeal of Gallions Reach to leading international retailers like Decathlon. It is perfectly placed to take advantage of future growth in this area of London, and we are investing in a series of refurbishment work and improvements to the site to further secure its place as a leading retail destination.”

Gallions Reach Shopping Park is located in the largest regeneration area in Europe, which is set to enjoy significant inward investment. 29,500 new homes will be created by 2020 within a 12-minute drive of the park and a further 3,000,000 sq ft of new office space within a four-minute drive.

The 325,000 sq ft shopping park is anchored by a 109,000 sq ft Tesco Extra. Other retailers include Next, H&M, River Island, TK Maxx, Boots, Smyths Toys and Sports Direct. Gallions Reach has 1,500 free parking spaces. Extensive refurbishment works have started with new signage, public realm and landscaping, plus a phased programme of further store frontage improvements.

Harvey Spackfield and Cushman & Wakefield represented Standard Life Investments in these deals.

pnorman@costar.co.uk

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