16 April 2015
Pradera secures Peacocks and Poundworld at Springhill Retail Park, Bangor.
Peacocks has re-established itself in the Northern Irish retail market, opening a 5,000 sq. ft. unit at Springhill Retail Park, in the south west of Bangor. The fashion brand was courted to the park by the joint venture owners, Brockton Capital and Pradera.
The JV also secured another high profile occupier for the site, with Poundworld opening a further 5,000 sq. ft. unit before Christmas.
The deals represent a major coup for the town, bringing a new range of affordable shopping to the local community.
Peacocks Stores Limited, part of The Edinburgh Woollen Mill Group, has chosen Springhill Retail Park as opposed to the local shopping centre, Bloomfield, in a further sign that the out of town retail market is growing in popularity throughout the UK.
Duncan Costin, Group Head of Acquisitions, said: “We’re delighted to be opening a Peacocks store in Bangor again. The stores we’ve re-opened in Northern Ireland so far have been very well received by the public and are trading successfully. We’re also pleased to be able to help boost the local economy by creating nearly 20 full and part time jobs in the town.
“There is certainly room for around 20 more stores over the next 2-3 years in Northern Ireland, if we can secure suitable premises.”
Jonathan Martin from Lambert Smith Hampton adds: “The out-of-town market is ever strengthening in Northern Ireland and there has been a significant growth in confidence in Springhill specifically “The scheme is well let, with limited voids and strong retailer interest in the remaining few units.
“This success signals a change in the way we view the retail park too. The traditional park has evolved into a key shopping destination and Springhill is the perfect example of this, accommodating retailers such as Next, New Look, Heatons, Sports Direct, Peacocks, B&M and Starbucks.”
Richard Gore, a Director at Pradera, commented: “Our strong asset management disciplines and focused approach means that we are constantly making targeted decisions to ensure that we achieve the optimal tenant mix which is complementary to both tenants’ and the local community’s requirements.
“We believe that both Peacocks and Poundworld will trade exceptionally well here and will contribute to the growth and sucess of the park. We welcome them to Springhill.”
The Springhill Retail Park is an Open A1 Retail Park anchored by a 6,968 sq. m. Tesco supermarket, with an additional 9,290 sq. m. of retail warehouse units. Other key tenants include New Look, Sportsdirect, Heatons and B&M.
Completed in 2008, the scheme sits alongside the main A2 arterial, just 2km from Bangor City Centre. It benefits from 984 parking spaces split over two levels.