SEGRO gives update on the future of the Bath Road Shopping Park

A property development and investment company has spoken of the future of the Bath Road Shopping Park following the closure of a popular clothing chain store.

Earlier this year, it was announced that SEGRO had bought the shopping park, which features retailers including B&Q and Boots among other stores, for £120m.

At the time, it was described as having ‘data centre redevelopment potential’ by the new owners.

The company’s latest comments follow on from the closure of the New Look store at the shopping park, which closed its doors on Tuesday, alongside another store in Windsor Yards in Windsor.

SEGRO said that it is not the company’s intention to retain the Bath Road Shopping Park ‘in its current form’, especially as there is ‘no demand for more than a third of the existing units’.

But it added that there are ‘no specific plans’ for its future until the company has ‘considered all the options’.

A SEGRO spokesperson, said:“SEGRO’s core asset base is industrial real estate, so it would not be our intention to retain the park in its current form, particularly as there is no demand for more than a third of the existing units.

“There are no specific plans in place for the future of the park and until we have considered all the options we will continue to manage the park alongside the small number of other retail assets we own on Farnham Road.

“We are always happy to have a conversation with potential occupiers to understand if the commercial requirements of both parties can be aligned, but more than a third of the retail park has been vacant for some time with little interest in the units. We are in active negotiations with a retailer for one of the units.

“We are still assessing our options in the context of current market conditions and will share details in due course.

“In the meantime, we will continue to manage the asset as a retail park.”