Westside Shopping Park

Location
Guiseley

Size
120,250 sqft

Background

•Acquired for Ashby Capital for £37,950,000 in February 2019.

•The shopping park is the dominant out-of-town retail location in Guiseley, a wealthy suburb north of Leeds.

•The park was acquired with WAULT of 4.80 years, comprising 12 retail warehouse units and a drive thru. Key tenants include Next, Next Home, Argos, Asda Living, TK Maxx, Halfords, Sports Direct, Curry’s PC World & McDonalds.

•The business plan has been focused on growing the existing income and improving the WAULT. A number of leases have been regeared, with development restrictions negotiated out, allowing for an additional drive-thru lane to be constructed at McDonald’s to improve carpark circulation, which further secured an extension to the term with the operator.

•Signage has also been upgraded and reconfiguration of the car park has increased capacity by 10% along with the addition of ANPR, CCTV and customer WiFi.

•The park remains at 100% occupancy with potential to construct a new drive-thru pod for Costa Coffee.

•Sold in 2025 to Reality Income REIT.