11 October 2016

PRADERA SECURES THREE MAJOR RETAIL BRANDS AT WHITE LION RETAIL PARK, DUNSTABLE

Pradera, one of Europe’s leading specialist retail fund and asset managers, secures three high profile occupiers at its White Lion Retail Park, Dunstable, UK.

FTSE 100 listed Next, the British clothing, footwear and home products retailer opened the doors of its new 8,000 sq. ft. store, which includes a 1,700 sq. ft. Costa Coffee concession, on 27 September, while labels-for-less retailer TK Maxx is set to unveil its 10,000 sq. ft. space on 20 October.

Shoe retailer Brantano was the first of the trio of new lettings to open, with its 6,000 sq. ft. unit welcoming shoppers on 21 September.  Hannah Patterson-Waterson, manager of the Dunstable store, said: “We are delighted to open one of our brand new stores in this convenient location.  “With the jobs it has created we hope it has provided a boost for the local economy.”

Pradera obtained consent to subdivide Unit 1, previously occupied by Staples, to accommodate Next (Unit 1A) and Brantano (Unit 1B). TX Maxx moves into Unit 5, previously occupied by former electrical retail chain Comet.

Simon Cairns, Director, Pradera, said: “Next, TK Maxx and Brantano represent a significant milestone in our asset management of the property. We’re delighted to welcome these three major brands which will improve the retail offer for the local community”.

The three new major lettings are expected to create in excess of 100 new jobs in the town and have already encouraged interest for the remaining units at the purpose built 136,000 sq. ft. (12,600 sqm) retail park, owned by the Pradera Open-Ended Retail Fund (POERF). A further round of lettings is expected to be delivered towards the end of 2016.

Cllr Nigel Young, Executive Member for Regeneration, Central Bedfordshire Council, said: “We’re delighted Next is able to improve its presence in Dunstable, which will act as a further boost to the local economy. The town is an increasingly attractive location for business and retailers and part of that is a testament to our regeneration work. I understand Pradera is in discussions with a number of other national retailers regarding the remaining vacant units.”

The retail park now comprises 13 individual units in two terraces with two restaurant units situated at the entrance.  The scheme is adjacent to a Sainsbury food superstore. Existing principal occupiers include DW Sports, Halfords, Laura Ashley and Pets at Home. The area benefits from excellent links with the M1 (J11) passing through the eastern edge of the town, providing an efficient link to the national motorway network. London is 25 minutes away by train from Luton.

Central Bedfordshire Council has plans to revitalise the centre of Dunstable through its new Market Towns Regeneration Fund and the High Street Improvement Scheme. The immediate and wider area are earmarked for 29,000 new homes with 7,000 already consented within the Dunstable and Houghton Regis locations. A new guided busway has recently opened providing a fast connection between Luton and Dunstable with a station stop at White Lion Retail Park.