M&G Real Estate acquires Riverside Retail Park, Chelmsford for £53m

M&G Real Estate has acquired Riverside Retail Park, Chelmsford for £53 million from British Airways Pension Fund. The retail park incorporates 145,000 sq ft of quality retail floor space and is located close to Chelmsford town centre.

Retail and leisure occupiers include Sports Direct, Tapi Carpets, Home Sense as well as a Nuffield Health gym, Costa Coffee and McDonald’s.

Sections of the retail park were recently refurbished with full-height glazing enabling a letting to sporting goods retailer Decathlon in spring 2017.

John Duxbury, Head of Retail and Leisure, M&G Real Estate comments: “This latest acquisition fits with our strategy to source high quality retail assets in towns with strong demographics where there is a depth of occupier demand and opportunity for active management. Riverside Retail Park provides an attractive trading proposition with a strong lifestyle and convenience focus, complimenting the existing and improving retail offer in the town centre.