History
London & Edinburgh Trust opened Fosse Park in 1989, the 265,000 sq ft (24,600 m2) development contained 12 retail warehouses, including Marks & Spencer as an anchor store. In 1996 Castlemore Securities bought an adjacent factory from the shoe manufacturer and retailer, the Oliver Group, for £25m and obtained a restricted planning consent for Fosse Park South.
In 1997 Pillar Property bought Fosse Park South for £52.5m from Castlemore and the original Fosse Park from SPP (the Swedish pension fund that owns LET) for £60m, thus uniting both halves of the park to create a 416,536 sq ft (38,697.5 m2) investment valued at £205m a year later. In 2004 Pillar attempted to sell Fosse Park, but withdrew when its £320m valuation was not achieved. In 2005 Reit Asset Management bought Fosse Park for £308m, while Pillar's had valued it at £350m. In 2006 Irish investors bought Fosse Park for £360m before placing it on the market once again in 2010.
When opened in 1989, Fosse Park commanded an average rent of £11/sq ft. As of 2010. this has risen to £105/sq ft, higher than any other retail park in the UK.
Read more about this topic: Fosse Shopping Park
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