PE1
Peterborough

A Hub for Popular Brands and Families

In 2016 we bought this asset with over 20%* vacancy and with the anchor tenant Van Hage not operating within profit. The remainder of the park at approximately 40,000 square foot was half vacant with troubled retailers such as Edinburgh Woolen Mill, Bon Marche and Cotswold outdoors all struggling.

We injected new life into the centre with a vibrant events programme and, for the time pioneering asset management bringing in new leisure concepts such as the popular national inflatable theme park ‘Inflatanation.’

Peterborough’s Premier Retail Experience

Targetfollow rebranded this aged garden park concept to a more relevant retail and leisure concept ‘PE1’ and, along with events such as fireworks displays, festival days and an annual ice rink event, the profile of the park was raised proving the concept that the site could be transformed with leisure lettings.

The leisure lettings followed, serving to transform footfall, and ultimately proving the catalyst for the park to be valued at its peak at £16 million.

A dance school, a martial arts studio, a gym and beauty school all served to increase footfall from half a million a year at purchase to 1 million on sale.

There are currently terms agreed for sale of a 1.65-acre plot for a storage operator for £1.45 million.