Hortons’ Estate, the Birmingham based property company owned by the Horton family, has announced the identity of the final tenant at its recently completed Hagley Road Retail Park.
Pets at Home, has signed a 15 year lease of the remaining 4,093 sq ft unit and join Vets4Pets (2,020 sq ft), American Golf Discount Centre Limited (5,000 sq ft), Barnardo’s (2,647 sq ft) and the Co-Operative Group Limited (4,000 sq ft), who had already signed.
Hagley Road Retail Park, was acquired by Hortons in September 2010 , and developed in partnership with Trebor Developments. Work started on the £4million development in October 2010 and was completed in early June.
Richard Norgrove, property director at Hortons’ Estate, said: “Hagley Road Retail Park has proved to be a very popular development due to its prominent roadside location and close proximity to the city centre, and this is reflected in the speed in which we have agreed terms with occupiers. The American Golf and Co-Operative units are open and reporting a brisk early trade, the remaining tenants are fitting out and will be open by the end of August.”
Emma Morgans, Pets at Home Store Manager, said: “We’re really excited to be launching a new Pets at Home store at Hagley Road Retail Park. We aim to be an integral part of the local pet community and hope to be a convenient one-stop shop for customers and their pets. Whether you are looking for food, accessories, advice, ideas or something a bit quirky, your Local Pets at Home has the most fantastic range and choice. “
The site’s completion and full occupation follows a successful couple of months for Hortons’ Estate, which included a £5 million pound deal with NVC Manufacturing Limited, China’s largest lighting manufacturers, to build them an additional 49,000 sq ft unit at Hollymoor Point in Rubery as well as agreeing a number of other lettings throughout its portfolio.
Richard Norgrove added: “We have seen continued strong interest, in particular from retailers, in well located sites and it goes to show that, despite the tough market conditions, successful development is still possible. We remain keen to acquire further opportunities in the Midlands and have the resources available to allow us to do so.”
