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Bromsgrove retail park sold for £7.5 million
2:00pm Monday 23rd June 2014 in Local
A NEW retail park in Bromsgrove - which has transformed a derelict former industrial site - has been sold for £7.5 million.
Brook Retail Park, constructed recently by Chase Commercial on the site of the former Barpro factory, has been acquired by IPT Property Holdings.
Leading retailers Homebase and Pets at Home have moved into the two retail units, at Sherwood Road, creating a total of 74 jobs.
Anglo Holt Construction completed the build, which comprises units of 25,000 sq ft and 9,000 sq ft as well as parking for 161 cars.
Tim Haslam, director at Chase Commercial, said: “The development of Brook Retail Park went very smoothly indeed and we are very pleased to announce that the site has now been sold to IPT Property Holdings Ltd.
“The units were both pre-let to Homebase and Pets at Home as the site is ideal for an out of town retail park and we understand that both are enjoying brisk trading in a convenient and attractive location.”
Homebase store manager Daryl Lancaster said: “We are delighted to have opened a brand new store on Brook Retail Park.
"Not only will the store provide ideas and inspiration for people’s home and garden projects, but we are also looking forward to playing an active role in the Bromsgrove community over the coming years.”
Pets at Home store manager Andy Thurstance added: “The retail park is an ideal location to serve the pet lovers of Bromsgrove. In the space of a few months, we have welcomed local dignitaries, schools and found three local pet charities to support.
"We are really looking forward to welcoming more new customers and their pets to our new store.”
The building project was funded by a £4.5 million investment and development loan from the Royal Bank of Scotland (RBS).
Harris Lamb acted as agents for Chase Commercial to sell the investment.
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