Stourport retail park sold for £3 million
Fully let Tannery Retail Park has been sold to a property investment business.
Goold Estates property investment and development company has announced the sale of Tannery Retail Park in Stourport, Worcestershire, to M Core for around £3 million.
The 28,800 sq ft, fully let retail scheme occupies a prominent 2.1-acre corner site at Tan Lane and Lombard Street, and is anchored by retail business B&M. Other tenants include Angling Direct, St Richard’s Hospice Foundation and InStore Pharmacy.
Goold Estates acquired the former Midcounties Co-operative site in 2024, with more than £1 million invested in the strip-out, subdivision and comprehensive refurbishment of the existing store.
The development has created a modern, multi-let retail scheme comprising four units, ranging from 1,859 sq ft to 18,889 sq ft, with new shopfronts, signage, LED lighting and a bike shelter.
Existing amenities have been retained and enhanced, including a 145-space customer car park with new line marking, offering free two-hour stays.
The estate was renamed Tannery Retail Park in recognition of the historic Stourport tannery that occupied the site between 1702 and 1964.
Anthony Williams, director at Goold Estates, said: “Being local to Stourport, the acquisition and development of Tannery Retail Park was a project of both personal and professional significance.
“We were delighted to attract national retailers to the scheme, creating local jobs and increasing footfall, while also supporting the relocation of InStore Pharmacy into larger, self-contained premises. In addition, we were proud to assist St Richard’s Hospice in opening a modern, large-format store to support its work in the community.
“The scheme was fully let on completion of the refurbishment, with tenants secured on long-term leases of between 10 and 15 years, reflecting the quality of the location and asset.
“We are pleased to have sold the estate to M Core, whose experience and expertise make them well placed to build on its success.”
Goold Estates was represented by AP Investment and mfg Solicitors.
Osborne Clarke and LSH acted on behalf of Proudreed Real Estate Ltd.
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