Barberry Group has achieved full occupancy at Phoenix Retail Park in Swansea following the completion of a new lease with leading mobility retailer CareCo, marking another successful letting for the Midlands-based property investor and developer.
The letting of unit 2A (5,900 sq ft) to CareCo marks the final available unit being occupied at the 64,500 sq ft out-of-town retail park.
CareCo has agreed a 10-year lease at a headline rent of £15 per sq ft and plans to open its new showroom before the end of the year following a substantial fit out.
CareCo, which operates 38 showrooms across the UK, employing nearly 500 people, specialises in mobility aids and equipment, offering a wide range of products designed to improve quality of life and independence for its customers.
Phoenix Retail Park comprises five units and is home to a strong line-up of national retailers including Home Bargains, Iceland and B&M.
Located approximately four miles north of Swansea city centre and within two miles of Junctions 44 and 45 of the M4, the park sits in the heart of the city’s established out-of-town retail cluster – the largest in the city, providing over 400,000 sq ft of retail floor space.
The asset has benefitted from a rolling programme of refurbishment by Barberry to maintain its appeal and high levels of footfall. Nearby occupiers include Tesco Extra, Asda, Greggs, Tapi Carpets, SCS, Tim Hortons, Wren Kitchens, Maplin and Smyths Toys.
The deal follows the relocation of Dreams earlier this year, after the bed retailer sought a larger store on an adjacent retail park.
Emilie Meddings, property surveyor at Barberry, said: “We are very pleased to welcome CareCo to Phoenix Retail Park and to confirm that the scheme is now fully let. This letting is testament to the continued strength of out-of-town retail and the quality of the environment we’ve created through ongoing investment and active asset management.
“Swansea continues to attract a broad mix of expanding national retailers, and we’re proud that Phoenix Retail Park remains a key part of that story.”
West Midlands-based Barberry has a 3.3 million sq ft industrial/logistics development pipeline with a Gross Development Value of more than £600 million and a growing income-producing commercial portfolio, delivering sustainable returns. The company also has 520 acres of strategically located residential and employment development land, capable of delivering 3,500 new homes including a 288 build-to-rent (BTR) apartment scheme in the heart of Coventry city centre.
