LaSalle completes purchase of The Parkway, Bury St Edmunds
LaSalle Investment Management has bought, on behalf of a client, the long leasehold of the town centre retail scheme The Parkway, Bury St Edmunds.
The 41,100 square foot prime leisure scheme was developed in 2005. It incorporates five restaurants, and is anchored by an eight screen Cineworld multiplex cinema. Frankie & Benny’s, Ask Pizza, Giraffe, Subway and KFC are tenants of the complex.
The Parkway is situated directly opposite The Arc Shopping Centre, the dominant shopping centre within the historic town of Bury St Edmunds, West Suffolk.
Ruth McFetridge of LaSalle Investment Management says: “We are extremely pleased that this deal has been completed and it is great news for our client. The Parkway is an iconic destination in the local area and is one of the primary retail and leisure attractions of the town. Since its opening in 2005, the Parkway has had an extremely strong tenancy record and the trade levels have remained robust. These factors combined to make the scheme a highly attractive investment proposition.”