Frogmore sells West One for £27.5m

The investment business has disposed of the fully let Eccles retail park to M7 Real Estate.

West One comprises 13 big box retail units anchored by Lidl and featuring The Range, McDonald’s, Subway, Home Bargains, The Food Warehouse, Jollyes Petfood Superstores, Pure Gym and Smyths Toys.

Frogmore Real Estate Partners purchased the asset, originally developed in 2001 by Wilson Bowden and Richardson, for £17.75m from Kilmona Holdings in April 2015 with a 50% vacancy level. A 50,000 sq ft deal secured with The Range in 2014 led the operator to shift focus to discount specialists.

The deal represents the fifth disposal within the firm’s Fund III.

John Matthews, senior asset manager at Frogmore, said: “Having seen the opportunity to reposition West One from a fashion retail park to a discount retail park, we attracted big name retailers.

“Bringing in complementary businesses, including Pure Gym, a dentist practice and a chiropractic service brought the park to full occupancy.”

Frogmore’s portfolio now spans multiple sectors including retail, office, residential, industrial and alternatives such as retirement park homes, student housing and data centres. Over the last 20 years, Frogmore has transacted more than £7bn of UK real estate.

M7 asset manages around 570 holdings across Europe in retail, offices and industrial, invluding several in the North West. In October 2021, M7 secured prior approval to convert Liverpool’s Graeme House, a former HMRC office, into 143 apartments

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