A retail park in Bristol has been sold to Consolidated Property Group (CPG) in a multi-million pound deal, as part of the company’s ongoing expansion strategy.
CPG confirmed that it had acquired Eastgate Retail Park, which houses a number of big-name retailers including Next, Boots and Asda Living, for £52m. Chairman and managing director Stuart Dawson explained that the site’s good transport links had been a major factor in CPG’s decision to press ahead with the purchase.
“Eastgate is in a prime location, adjoining Ikea and Tesco, and is immediately off junction 2 of the M32 and only three miles north of the city centre - as such, it is a major destination,” he explained. “The acquisition of the Eastgate Retail Park continues our strategy of purchasing open, A1 retail parks.”
Other shopping destinations owned by CPG include retail parks at Chester, Malvern, Exeter and Macclesfield. Dean Copley, a partner at the Gateley law firm which advised CPG on the deal, described the acquisition as “significant”.
The Independent reported earlier this week that chains including Nike, Armani and Superdry were in talks to occupy units at the new London Designer Outlet shopping centre at Wembley City.
