ISIS Property is to extend its Newbury Retail Park by 25 per cent, following the acquisition of an adjoining 0.9-hectare site for£3.5 million.
The Berkshire site has planning consent for 3,580 sq m of open A1 non-food space.
Newbury Retail Park comprises 12,065 sq m of retail warehousing, producing an annual rent roll of more than£2 million. Tenants include Mothercare, Boots, JJB Sports, Homebase, Pizza Hut, Carpetright, McDonald’s and Powerhouse.
ISIS Property asset manager George Cotton said: ‘As the town’s principal out-of-town retail park, Newbury Retail Park has become a very popular shopping destination for a wide catchment area. We are already talking to a number of retailers about the extension - which can be broken down into four units or let as a whole - and plan to start development as soon as possible.’
ISIS Property was advised by HD Gee Property Consultants. Knight Frank is letting agent.