News: Powell Williams stays on as Benson Elliott sells Slough Retail Park in Berkshire for £63m
Orchard Street Investment Management has acquired the
150,000 sq.ft asset from Benson Elliott on behalf of St James's
Place UK, and has retained Powell Williams to look after
it's new project.
Sofaworks unit at Slough Retail
Slough Retail Park is the biggest furniture retail park in the
area, fully-occupied by tenants including DFS, The Range,
Sofaworks, Wren Kitchens and Smyths Toys. It provides 152,467 sq.ft
of space across eight retail warehouse units, with 546 on-site car
Whole life-cycle approach
Our team conducted the original acquisition survey for
long-standing client Benson Elliot in 2016 and we were closely
involved with the subsequent improvement programme in conjunction
with their asset manager Cube Real Estate. This proactive approach
not only allowed the client to derive significant income
improvement from the asset, but also increased its capital value
which was realised upon the sale.
We also dealt with landlord and tenant matters, such as
dilapidations and monitoring tenant works, and supported Benson
Elliot through to disposal.
Orchard Street instructs Powell Williams
Due to our unrivalled depth of knowledge of the park, and the
endorsement of our clients Benson Elliot and Cube Real Estate, we
have since been instructed by Orchard Street to act as Project
Manager and Principal Designer for the first of its own improvement
works. This involves the construction of a new 1,800 sq.ft
drive-thru premises for Costa on the corner of Bath Road, a project
which is expected to complete early 2019.
For further information regarding Slough Retail Park, please
contact Natasha Tyler.