INFLUX OF NEW TENANTS AT SPRINGFIELDS OUTLET

Chester Properties have announced a batch of lettings at their East of England Outlet, Springfields, they Asset Manage on behalf of UBS Triton Property Fund. Nike Outlet are the latest to commit to the scheme taking 8,000 square feet anchoring East Avenue. Marks & Spencer have also committed to a further 2,500 square feet taking them to a store of over 13,600 square feet. BMB brand Jeff Banks is taking 1,500 square feet.

Stacatto, part of the Pavers Group are opening their fashion shoe store in 1,600 square feet after Skechers recently moved in to a 2,000 square foot unit there. Completing the new fascias are relocated stores for Petroleum and Coloroll with 3 more stores in Solicitors hands replacing poorer trading tenants at the scheme.

Ian Sanderson, Head of Outlets for Chester properties, said: “There is a very significant ‘feel good factor’ here at Springfields, and this is backed-up by the successes seen by our tenants. Turnover and footfall remain high, with turnover having risen by 19% and 21% in the last 2 calendar years and this is attributed to an attractive mix of stores on offer, great value prices and a relaxed, and different shopping environment.

“Springfields is, of course, more than just an outlet shopping centre. Our stores are complemented by extensive gardens,a wide range of places to eat, a 42 bedroom hotel and leisure activities for children. We work hard with our brand departments to deliver an excellent shopper experience”.

Chester have also seen huge growth in their Festival park outlet in Ebbw Vale since attracting M and S Outlet into 10,000 sq ft and Gap Outlet into 7,000. A batch of new names are expected there soon with the addition of 2 major leisure attractions currently under construction.

CHESTER BUYS CLYDE RETAIL PARK FOR £19.1M

Chester Properties Investment Partnership in joint venture with Columbus UK Real Estate Fund have completed the purchase of the Clyde Retail Park in Clyde Bank. The centre provides just under 150,000 sq ft of open A1 retail floor space in 11 units let to TK Maxx, Sports Direct, Halfords, Bedshed, B&M, Matalan, Next, Blockbuster, Dreams, Go Outdoors and KFC. This is a popular and prominent retailing location and the park has a number of opportunities for development and improvement.

CHESTER PURCHASES 49,000 SQ FT OFFICE BUILDING FOR CARVAL

Chester have purchased for CarVal Investors 2 Longwalk,Stockley Park 49,000 sq ft empty office building. Approximately £1m will be spent on a refurbishment bringing the accommodation to grade A standard and the building will be let. Chester are Development Managers and Joint Venture partners.

CHESTER SECURES 10 OUTLET RETAIL LETTINGS IN 10 WEEKS OF 2012

Chester have let over 20,000 sq ft of space in 10 units at its Festival Park Outlet scheme, Mid South Wales, and at Springfields outlet in Lincolnshire it manages on behalf of UBS Triton Property Fund. Three stores open their first in Wales at Festival Park, Dickies Workwear, The Craft Outlet and Anna Rose ladies wear.

CarVal Investors and Chester Properties announce the acquisition of three more office properties in Stockley Park

London, 11 July 2012 – CarVal Investors has just completed the acquisition of 1, 3 and 5 Roundwood Avenue in Stockley Park from the Universities Superannuation Scheme (USS).

The properties occupy a prominent position close to the Park’s main entrance and have a total of ca. 119,400 sq ft N/A and 371 parking spaces. Each office building has large open plan floor plates arranged over ground and first floors. The properties are wholly leased, with relatively short remaining terms.

Carval and Chester commented: “This acquisition reinforces our presence at Stockley Park after the purchase of 2 Longwalk a few months ago. Space vacated in the future will be comprehensively refurbished to Grade A standard to meet future demand in what is becoming a tight market for well located high quality space.”