Lothbury Investment Management, on behalf of Lothbury Property Trust, has let a 4,049 sq ft unit at Congleton Retail Park in Cheshire to shoe retailer, Shoe Zone on a five year lease at £77,000, equating to £19.00 per sq ft.
Shoe Zone joins retailers including Halfords, Marks & Spencer, Boots and Carphone Warehouse on the Park. Lothbury purchased Congleton Retail Park off market for £16.39m in early 2014. It comprises a terrace of 10 fully let units and benefits from open A1 planning consent.
Sam Worner, Asset Manager at Lothbury Investment Management, said: “Congleton Retail Park is in a prime location, just under half a mile from Congleton town centre, and has provided the fund with good rental growth. Shoe Zone is a well-established retailer. It, therefore, fits very well within the Park’s retail offering and we are pleased they have taken the unit.”
Lothbury Investment Management was represented by Wilkinson Williams.
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