December 10, 2010
Standard Life Investments, one of the largest real estate fund managers in Europe, has secured four new tenants for Gallions Reach Shopping Park in Beckton, East London.
Life & Style, fashion and homeware retailer, has signed a 10 year lease, for an 8,700 sq ft store, the first out of town store for Ethel Austin former owner Elaine McPherson who plans a chain of 200 such stores. In addition, fashion retailer Store Twenty One has signed up to take a 4,340 sq ft unit, on a 10 year lease and both are now open for Christmas trading.
In addition, the Shopping Park’s food offer has been significantly enhanced by the arrival of Costa Coffee and Subway who have signed up to take 1,500 sq ft and 1,000 sq ft respectively. They will compliment the existing restaurant line up which includes McDonald’s, Nando’s and Pizza Hut.
Lorcan Mooney, Fund Manager, UK Retail Park Trust, said: “These are significant lettings for Gallions Reach Shopping Park and will further establish the Park as a major shopping destination for our core catchment.”
Martin Barlow, Property Director, Life & Style commented: “We are delighted to be opening our first out of town store at Gallions Reach in Beckton. It is in an ideal location, with excellent car and public transport access and a core catchment which fits well with Life & Style’s retail offer.”
Edgerley Simpson Howe, Morgan Williams and Harvey Spackfield acted for Standard Life Investments, Smith Price represented Store Twenty One and Hartnell Taylor cook acted for Life & Style.