Case Studies

Gallagher Retail Park, Phoenix, Linwood

Gallagher originally acquired a 50% interest in this retail park in 1999 and went on to complete the acquisition of the remaining 50% in 2003.

The site is part of The Phoenix area located on the south side of the A737 approximately eight miles west of Glasgow city centre and three miles from Glasgow Airport. Neighbouring operators include Asda, Gala Bingo and a number of car showrooms and leisure facilities.

The majority of the park was built in 1991 on a former car factory site. A large section was refurbished during the course of 2001. The site benefits from a part open non-food and part bulky goods retail consent. Accommodation totals 125,220 sq.ft., with lettings in place to Thomas Cook, Matalan, Focus, TK Maxx, Carpetright and Topps Tiles.

Asset management of this and our other park is a continually evolving process and we will be downsizing Matalan early in 2007 by 10,000 sq.ft. so that a new unit can be created and let to an open A1 retailer.

TK Maxx will, at the same time, expand their store by 5,000 sq.ft. to accommodate a TK Maxx Homestore.

Planning consent exists for a further 55,000 sq.ft. of bulky goods retail accommodation which will be marketed once the asset management initiatives referred to above have been completed.