Birmingham developer Hortons’ Estate has signed the final tenant for its Hagley Road Retail Park in Edgbaston, West Midlands.
Pets at Home has signed a 15-year lease for the remaining 4,093 sq ft unit and joins Vets4Pets (2,020 sq ft), American Golf Discount Centre (5,000 sq ft), Barnardo’s (2,647 sq ft) and the Co-Operative Group (4,000 sq ft), which have already signed.
The Hagley Road Retail Park site was acquired by Hortons in September 2010 and developed in partnership with Trebor Developments. Work started on the £4m development in October 2010 and was completed in early June.
Richard Norgrove, property director at Hortons’ Estate, said: “Hagley Road Retail Park has proved to be a very popular development due to its prominent roadside location and close proximity to the city centre, and this is reflected in the speed in which we have agreed terms with occupiers.”
The American Golf and Co-Operative units are now open, the remaining tenants are fitting out and will be open by the end of August.
The news follows on from another recent £5m deal with NVC Manufacturing, China’s largest lighting manufacturers, to build an additional 49,000 sq ft unit at Hollymoor Point in Rubery.
Norgrove added: “We’ve seen continued strong interest from retailers, in well located sites and it goes to show that, despite the tough market conditions, successful development is still possible. “
Hortons’ is keen to acquire further opportunities in the Midlands.
lisa.pilkington@estatesgazette.com
