A private investor has acquired Stane Retail Park in Colchester for £33.95 million.
The South African client of of Pembrey Asset Management bought the 123,637 sq ft park from its developer The Churchmanor Estates Company, which completed the scheme in 2022.
It is anchored by an 80,000 sq ft purpose-built M&S which sits alongside an occupier line up of Superdrug, Mountain Warehouse, Furniture Village, Greggs and Cook. Nearby branches of B&Q and Aldi, totalling 100,000 sq ft are in separate ownership.
A loan from Investec Bank supported the purchase. Pembrey Asset Management was represented by Cushman & Wakefield while Churchmanor Estates was represented by XPROP.
Its funding was provided by Close Brothers and the legal work was undertaken by Birketts.
Marcus Wood from Cushman & Wakefield said: “2025 is set to be another strong year for retail warehouse investment volumes.
“C&W recorded £3.5 billion of out-of-town stock in 2024 and whilst there was a huge surge in transaction volume inQ4, very little of that was of the quality that attracted our client towards Colchester.”
Matthew Robinson from Investec Bank said: “We are delighted to have been able to assist our client in acquiring this high-quality retail asset. With a long track record of supporting both domestic and international buyers with investment and development funding solutions, we are well placed to continue supporting our clients.”
Matt Cloke from Churchmanor Estates said “We are delighted to have completed this sale, marking the conclusion of 12 years ownership and development of Stane Park by Churchmanor Estates, which started with the opening of the adjacent leisure park in 2017.
“The successful sale is a testament to the strength of the location, the quality of the development and the tenant line up that we have put together.”
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