Retail park on frozen food retailers’ menu for expansion

The Derwent Group has secured frozen food retailer Farm Foods at Wavertree Retail Park in Liverpool, as well as a lease extension from supermarket Iceland.

Farm Foods has signed a 10-year lease for the former Poundstretcher unit, which totals 9,980 sq ft.

The retailer is expected to open its new store during the first quarter of 2021.

Iceland, which has been a tenant at Wavertree Retail Park for 25 years, has signed a 10-year lease extension on its 8,500 sq ft unit.

Now fully-let, the 105,000 sq ft retail park is also home to Buzz Bingo, Matalan and Home Bargains.

James Maule-Finch, senior asset manager for The Derwent Group, which owns Wavertree Retail Park, said: “Wavertree Retail Park serves a large local catchment and parking is plentiful so it’s an optimum location for two food retailers.

“This is the first time we’ve welcomed Farm Foods to one of our parks and they complement the existing tenant mix well.”

CSP acted for the Derwent Group and PWM Property acted for Farm Foods.

Wavertree Retail Park is owned by The Derwent Group which is part of the Albert Gubay Charitable Foundation and operates across the retail, leisure, industrial and commercial sectors.

The Derwent Group has a commercial property portfolio of three million sq ft, including 2.1 million sq ft of retail and leisure space.

Through The Albert Gubay Charitable Foundation, The Derwent Group generates grants to charitable causes in excess of £10m per annum.