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Wed December 08 2021

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Trust expands its retail parks

30 May 14 Construction work worth £75m has started on four retail parks around the country owned by Hercules Unit Trust (HUT).

Glasgow Fort development
Glasgow Fort development

HUT is a specialist retail park fund advised by British Land and managed by Schroders.

Work is under way on a 112,000 sq ft retail extension at Glasgow Fort, a 71,000 sq ft extension at Deepdale Shopping Park in Preston and leisure extensions of 55,000 sq ft at Fort Kinnaird in Edinburgh and 55,000 sq ft at Broughton Shopping Park in Chester.

The £35.5m Glasgow Fort retail extension comprises an 80,000 sq ft anchor store which has been pre-let to M&S and a further 32,250 sq ft of retail space.

The £14m extension at Deepdale Shopping Park in Preston, which is 50% owned by HUT, will deliver 44,897 sq ft of additional retail spaceand 28,658 sq ft of ancillary uses.

The £12.5m leisure extension at Broughton Shopping Park in Chester will include an 11-screen Cineworld Imax cinema and five chain restaurants.

Fort Kinnaird’s £13m leisure extension in partnership with the Crown Estate, which is 50% funded by HUT, includes a seven-screen Odeon cinema alongside seven chain restaurants.

The extension at Preston is scheduled for completion this year with Glasgow Fort, Edinburgh and Chester in spring 2015.

Fort Kinnaird Shopping Park is owned by Gibraltar Limited Partnership which is 50% owned by HUT and 50% by The Crown Estate.

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