The Gateway

Site Development

Located in a prominent position between the train station and the Shires Shopping Centre, Parkridge Holding’s development of The Gateway has delivered for Trowbridge:

  • a large range of quality shops (7,000 sq m)
  • a mix of homes (70 units)
  • attractive new office space for local businesses (1,200 sq m)
  • additional car parking (240 spaces)
  • road and footpath safety improvements for pedestrians and cyclists.

The scheme will provide Trowbridge with an investment of £35 million and has the capacity to create some 200 full and part time jobs.

The main retail element of the scheme (The Boulevard) was opened in 2009 and is occupied by Next, Brantano, New Look, Argos and Boots. The Courtyard part of the scheme will provide smaller “boutique-style” units and include café and coffee bar occupiers. The main residential development is unlikely to be built out until housing market conditions significantly improve.

Latest news

Parkridge Holdings go in to Receivership

12.00pm Wednesday 24th August

Parkridge Holdings have gone in to receivership. Price Waterhouse Coopers have been appointed as receiver for Parent and Holding companies. Awaiting Allied Irish Bank to appoint receivers for the site previously owned by Parkridge.

Trowbridge’s Gateway sold for £20m

12:00pm Thursday 7th April 2011

The Gateway Shopping Park in Trowbridge has been bought by Standard Life Investments for £20.7m. The freehold acquisition represents a yield of 5.7 per cent.

Purchased from developer Parkridge, The Gateway Shopping Park was completed in 2009 and comprises of retail warehouses totalling 56,630 sq ft. It also has a 226-space car park.

Nigel Chapman, fund manager of the UK property fund at Standard Life Investments, said: “We are delighted that we have been able to increase the Standard Life Investments UK Property Fund’s exposure to prime retail real estate. The Gateway Shopping Park provides good diversification in terms of income, reduces the cash balance held in the fund and provides an attractive yield for investors.”

The retail units are let to Next, New Look, Argos, Boots and Brantano.

Standard Life said its investment objective of the UK Property Fund is to provide a return from capital appreciation and income over the longer term. The current policy of the fund is to invest primarily in UK commercial property.

 

Timeline

2011

  • Boulevard purchased by Standard Life Investments. Parkridge go in to receivership

2009

  • Opening of main retail area and completion of Courtyard shops/cafes and public realm improvements

2007

  • Outline planning application made
  • Outline planning permission given
  • Consultation on detailed plans
  • Detailed planning application was submitted
  • Resolution of detailed planning
  • Work starts on site