BPE was delighted to act on behalf of developer, Robert Hitchins Ltd, on the sale of Gloucester-based retail space.
The retail hub, built by EG Carter, sits on a 0.75-acre site alongside the A35 and contains five, fully let retail units including a 4,000 square foot Midcounties Co-Operative.
Henry Squier, asset manager for Robert Hitchins Ltd, said: “We're pleased to have delivered such a successful district centre to Twigworth.
With BPE’s support, we have been able to bring a major national convenience retailer to the local area, as well as the hugely popular Janes Pantry. More recently, the addition of three independent retailers has further enhanced the centre, broadening the range of amenities available to residents and A38 commuters, alike.
It was great to work with BPE again on this deal; the Commercial Property team were always on hand and responsive.”
BPE’s Commercial Property team were chosen to advise on the sale after having successfully leased all of the retail units within the centre. ARC Retail & Leisure acted as the agents on this sale. Director, Andy Smallman said: “The successful leasing campaign delivered a fully-let, well-balanced mix of occupiers which meets the needs of the local community.
The subsequent investment sale generated a good level of interest with multiple offers, showing that there remains a strong demand for high-quality prominent roadside retail assets with a good tenant mix and dedicated parking."
Solicitor, Samantha Taylor advised on the sale to a private purchaser for £1.935m. Samantha said: “It’s exciting to work on local projects with such fantastic teams in the property space. We have been working with Robert Hitchins Ltd for a number of years and helping them to complete this sale was a great opportunity to work with them once again. We look forward to watching this retail space thrive.”
Robert Hitchins Ltd also provided landscaping, electric charge points and support infrastructure as well as a new access road and roundabout from the A38 between Gloucester and Tewkesbury. This contributes to BPE’s portfolio of clients looking to operate on a more sustainable basis.
If you have queries regarding land sales, purchases, or the potential for development, please get in touch with one of the experts in our Commercial Property team today to find out how we can assist.
