FROZEN FOOD RETAILERS CHOOSE WAVERTREE RETAIL PARK

Acting on behalf of The Albert Gubay Charitable Foundation, Derwent Estates has secured frozen food retailer Farm Foods at  Wavertree Retail Park in Liverpool, as well as a lease extension from supermarket Iceland.

Farm Foods has a signed a ten year lease for the former Poundstretcher unit, which totals 9,980 sq ft.  The retailer is expected to open its new store during Q1 2021.

Iceland, which has been a tenant at Wavertree Retail Park for 25 years, has signed a ten year lease extension on its 8,500 sq. ft unit.

Now fully-let, the 105,000 sq ft retail park is also home to Buzz Bingo, Matalan and Home Bargains.

James Maule-Ffinch, senior asset manager for Derwent Estates, which manages Wavertree Retail Park on behalf of The Albert Gubay Charitable Foundation, said: “Wavertree Retail Park serves a large local catchment and parking is plentiful so it’s an optimum location for two food retailers. This is the first time we’ve welcomed Farm Foods to one of our parks and they complement the existing tenant mix well.”

CSP acted for the Derwent Estates and PWM Property acted for Farm Foods.

Wavertree Retail Park is owned by The Albert Gubay Charitable Foundation and managed by Derwent Estates, which operates across the retail, leisure, industrial and commercial sectors.  The Foundation has a commercial property portfolio of 3 million sq. ft, including 2.1 million sq ft of retail and leisure space, all of which generates the income necessary for the Foundation to continue as a grant maker to charitable causes in excess of £10 million per annum.