REI swiftly secures two new lettings at Southgate Retail Park in Derby

Real Estate Investors plc, the Birmingham-based Real Estate Investment Trust with a portfolio of 1.37 million sq ft of investment property, has announced two new lettings in quick succession at Southgate Retail Park in Derby.

Ian Clark, director, Asset Management, at REI, said that when the two units were vacated by Subway, they were immediately snapped up by local businesses.

The 1,600 retail unit to the front has been taken by Basat Mahmood and Aqib Iftikhar on a 15 year lease to open a local convenience store.

The rear unit, also 1,600 sq ft has been taken on a five year lease by Asgar Tair who runs a boxing gym as a charitable enterprise.

Southgate Retail Park comprises a 53,202 sq ft, eight unit, retail and office property, combining a modern retail warehouse scheme and a business innovation centre, with extensive car parking facilities.

The park is anchored by a Lidl store and serves as a district centre to residents of the Normanton suburb of Derby. As well as Lidl, tenants include The Gym Group and the Royal Mencap Society.