Property giant announce deal to buy Meadows retail park

First published in
Last updated
Chelmsford Weekly News: Matt Abbott by , Chief Reporter

PROPERTY giant Schroders has completed a whopping £20million deal to buy a city centre retail park

Schroders, who own and manage £10.6billion worth of property across the world, announced a deal for the park - built in 1995 - with former owners Orchard Street Investments on Tuesday.

The firm was unable to reveal investment plans for the park so soon after the deal being struck but said the centre, which already boasts giant retailers Argos, Yates, Maplin, Blacks and Mothercare was well placed to benefit from the city centre’s development plans.

Meadows has links to Springfield Road and the High Street. John Lewis is set to open a £15million store on nearby Bond Street next year.

James Lass, Schroder Property Fund Manager, said: "The Meadows Retail Park further strengthens Schroder UK Property Fund’s position as a leading investor in the South East retail park sector.

"It provides us with several significant active management opportunities and supports our long standing strategy of buying well located in-town retail parks in key affluent areas with units let off low base rents to retailers who trade well from the location."

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree