UKCM secures letting with Home Bargains at St George’s Retail Park in Leicester
UK Commercial Property REIT (UKCM), which is managed and advised by Aberdeen Standard Investments, has let a 25,882 sq ft retail unit at St George’s Retail Park in Leicester to UK retailer Home Bargains.
Home Bargains has agreed to a 15-year lease in line with ERV and with fixed uplifts every five years. The new store is expected to open in summer 2019, joining existing occupiers including Aldi, Iceland, Pets at Home and Currys.
The construction of an additional three units totalling 24,450 sq ft, which forms part of the wider asset management strategy for the Retail Park, has practically completed. Leases have been completed with Laura Ashley, Tapi Carpets and Wren, who are fitting out and will open in the coming months. Costa Coffee will also open a coffee convenience pod at the asset in Spring 2019 on a 10-year lease.
Will Fulton, Lead Manager of UKCM at Aberdeen Standard Investments, says: “We look forward to welcoming another major UK retailer to St George’s Retail Park when Home Bargains opens its store this summer. We have created a diverse line-up of occupiers in line with our asset management programme to improve the overall consumer experience, drive footfall and ensure this remains one of the area’s key retail destinations.”
UKCM was advised by Morgan Williams and Cushman & Wakefield.