Partly Cloudy

Partly Cloudy

max temp: 24°C

min temp: 16°C

ESTD 1874 Search

Bury St Edmunds: LaSalle acquires leasehold of Parkway leisure development

10:16 18 December 2012

The Parkway leisure development in Bury St Edmunds

The Parkway leisure development in Bury St Edmunds

THE Parkway leisure and retail development in Bury St Edmunds is under new ownership.

International property investment manager LaSalle has acquired a long leasehold on the scheme on behalf of an undisclosed client.

Tenants within the 41,000sq ft development, which was completed in 2005, include Cineworld which operates the centre’s anchor eight-screen multiplex cinema complex.

There are also five restaurant and take-away units, occupied by national operators Frankie & Benny’s, Ask Pizza, Giraffe, Subway and KFC.

The value of the leasehold transaction, on which LaSalle was advised by Knight Frank, remains confidential.

LaSalle has around US$47billion (£29billion) of assets under management, on behalf of clients including private and public sector pension funds, insurance companies, governments and private owners.

The company said a key factor in the success of the Parkway complex was its location closed to the retail core of Bury, including the arc shopping centre.

Spokeswoman Ruth McFetridge added: “We are extremely pleased that this deal has been completed and it is great news for our client.

“The Parkway is an iconic destination in the local area and is one of the primary retail and leisure attractions of the town.

“Since its opening in 2005, the Parkway has had an extremely strong tenancy record and the trade levels have remained robust. These factors combined to make the scheme a highly attractive investment proposition.”

Search hundreds of local jobs at Jobs24

0 comments

Ethan Miller is the winner of a furniture  design competition, where his design has been made into a prototype by West Suffolk College.
Ethan Miller reiving his prize from Paul Glasswell.

Students design wins Glasswells furniture design competition

And indicative perspective of what a new retirement homes on the 30 Lower Brook Street site, might look like.
Development plans are going out for consultation.
The site is currently Archant's newspaper offices.

A public exhibition will give local residents Ipswich residents the opportunity to view and comment on McCarthy and Stone’s preliminary proposals to redevelop land between Lower Brook Street and Turret Lane.

Part of the new facilities at Red Lodge Karting.

A west Suffolk outdoor karting company has created five new jobs with the opening of a new corporate hospitality venue.

Adnams chairman Jonathan Adnams, left, and head distiller John McCarthy in a field of rye.

Southwold-based brewer and distiller Adnams is adding two new spirits to its range.

Partners at BlocksLegal LLP in Ipswich.

Ipswich law firm BlocksLegal LLP has staged an event at the Suffold Food Hall at Wherstead to promote export business with China.

HOT JOBS

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

MyDate24 MyPhotos24