Work Due to Start on Site in Q3 2024
Acting on behalf of the Albert Gubay Charitable Foundation, Derwent Estates has secured planning permission to develop a further 70,000 sq ft of retail and leisure space at Liverpool Shopping Park with 90% of it already pre-let
The £11million expansion will see Hollywood Bowl’s unit reconfigured and completely refurbished to create an enhanced new 35,000 sq ft bowling and leisure facility with a new 20 year lease agreed. Tesla is set to open a new 20,000 sq ft car showroom having also agreed a 20 year lease. Two new drive-thrus will be operated by Five Guys and Costa Coffee having both taken 15 year leases. These high profile operators will join the likes of M&S Food Hall, H&M, Nike, Greggs, Next, Smyths Toys, JD Sports, TK Maxx and most recently, PureGym.
James Maule-Ffinch, Senior Asset Manager at Derwent Estates, says: “The prominent location of Liverpool Shopping Park, fronting Edge Lane, means that it has immediate appeal to retail and leisure operators. This next phase in the Park’s development will increase it in size to 235,000 sq ft making it one of the region’s largest and most popular out of town retail and leisure destinations.”
James continues: “The fact that we have managed to pre-let the majority of this latest phase so quickly is testament not only to the appeal of the Shopping Park but also the high quality of the units. We recently secured a 4,000 sq ft letting to Schuh on a 10 year lease proving that high profile occupiers continue to flock to the Park. Only two units of 3,000 sq ft remain and we are already in advanced negotiations with potential operators for both, which we hope to announce soon. We plan to appoint a contractor in the coming weeks with a view to starting on site later in the summer.”
ATP Planning is the planning consultant advising Derwent Estates with RGP the architect and Drees & Sommer (UK Ltd) the project managers. McMullen Real Estate and CSP are the retained letting agents for the scheme.
Derwent Estates continues to be very active in this gateway to Liverpool city centre location having also just agreed a 20 year lease with Howdens for the former American Golf building situated further along Edge Lane. This prominent building will be a new flagship store for the trade kitchen supplier.
For further information please contact:
Anna de la Perrelle anna@delapr.com 07876528773
Derwent Estates
Derwent Estates manages the property portfolio belonging to The Albert Gubay Charitable Foundation. This portfolio comprises over 2.8 million sq ft of commercial property including some 2.1 million sq ft of Retail and Leisure space.
Our mission at The Albert Gubay Charitable Foundation is to support charities across England and Wales, the Isle of Man, and the Republic of Ireland, ensuring that valuable projects are provided with funding to develop and maintain their inspiring work.
Since it received its assets in 2016, the Foundation has awarded over 600 grants totalling over £68million to registered charities in England and Wales, the Isle of Man, and the Republic of Ireland.
Albert Gubay
Albert Gubay was an exceptional man; an entrepreneurial genius who created a business empire that was worth over £700 million. His determination, drive and passion to create a lasting legacy was borne from a pact he made as a young, penniless man when he vowed to give half of any wealth he created to the service of God. That vision was to become a reality, but he went much further and ended up leaving most of the wealth he created to The Albert Gubay Charitable Foundation so that charitable causes could be helped.
