Overcast

Overcast

max temp: 14°C

min temp: 10°C

ESTD 1874 Search

The pigs are coming. Find out more about

Pigs Gone Wild

here.

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.”

0 comments

The Inspirations shop in Wickham Market,owned by shareholders in the community, is now officially open. Nick Denny from the Co-op cut the ribbon.

The much anticipated transformation of a Suffolk village’s former supermarket into a new community retail venture was celebrated this week - four years after the site was last in use.

New-build utility connections specialist Brookfield Utilities has reported increased annual profits.
Photo: Rui Vieira/PA Wire

Annual profits at Suffolk-based Brookfield Utilities have increased by more than one-third as it continues to add to the number of properties it connects.

Curtis Banks Group chief executive Rupert Curtis (left) with Will Self, managing director of Suffolk Life, outside the company's offices in Princes Street, Ipswich.

Self-invested personal pensions (SIPP) specialist Curtis Banks Group has completed the £45m acquisition of Ipswich-based Suffolk Life from Legal & General (L&G).

Dan Everitt, managing director of MSC UK.

Dan Everitt, managing director at the Mediterranean Shipping Company’s UK headquarters in Ipswich, has been named Multimodal Personality of the Year at a leading industry awards ceremony.

Celebrating the launch of British Airways flights from Stansted Airport are Luke Hayhoe of BA CityFlyer (left) and Andrew Cowan of Stansted Airport with British Airways’ cabin crew Paulina Stasiak (left) and Danielle Bellini.

The first British Airways flights from Stansted Airport will get off to a flying start this weekend with all the summer sun destinations fully booked.

Most read

Great Days Out

cover

Click here to view
the Great Days Out
supplement

View

Most commented

HOT JOBS

Show Job Lists

Streetlife

Newsletter Sign Up

Great British Life

Great British Life
MyDate24 MyPhotos24