NCP parking will be scrapped at 'unloved' Northampton retail park after sale to new owners

An ‘unloved’ Northampton retail park has been bought by fresh investors who aim to 'enhance' the town centre.

Northhold Group says it has recently bought St Peter's Way Retail Park from DTZ Investors for an undisclosed fee.

The privately owned multi-asset investment company based in Manchester says its 'primary focus is property investment and development'.

St Peter’s Way retail park comprises a mix of retail and leisure occupiers including Home Bargains, Argos, Iceland, Pure Gym.

A Northhold Group spokesman said: "We felt the site was unloved. We felt it was an opportunity. Northampton is underinvested in and we thought we could bring something to the town with an investment and a refurbishment on the park that will massively enhance the town and our investments.

"There has been quite a bit of demand for the vacant units at the park. We have already let two of the units: the former Costa Coffee shop and vacant unit next door to Fine White Line fashion outlet and private medical practice Urgent Care 365 who are both currently fitting out.

Fine White Line fashion will be selling designer clothing such as Gucci, Giorgio Armani, Prada, Moschino, Timberland, Jimmy Choo and more from the vacant unit next to Argos. And urgent care 365 are a private medical practice open 7am till 11pm 365 days a year with doctors and nurses on demand.

Northhold Group says it is talking to operators with regards to The Bar With No Name, and former below one, we've had a couple of offers and people we're talking to.

The spokesman also confirmed plans to scrap the contract with parking firm NCP, which has proved controversial with shoppers in the past.

The Northhold Group spokesman said: "We have terminated the car parking lease with NCP so from June onwards customers who are going to be shopping on the retail park will have free parking up to two hours managed via ANPR, we also expect gym membership to increase with the new parking arrangements. The principle that drove this was we felt customers shouldn’t be penalised for parking to go shopping and it won't be clogged up by commuters, which is what's happening today.

"In terms of the actual estate, we are repainting the canopies from dated blue to modern black and we're revamping and redesigning the totems with new branding to modernise the space."

When asked if Home Bargains will be staying put considering the company is opening a new store close, the spokesman said Home Bargains 'are staying and have not said otherwise'.

The site is 96,253 square feet and home to 278 car parking spaces.

The Grosvenor Centre in Northampton town centre has also recently been taken over by new owners.

The site was snapped up at the end of January by Evolve Estates, a national commercial property and investment company.

Joe O’Keefe, one of the founding partners of Evolve Estates, said: “We are pleased to have completed this acquisition in an incredibly challenging market, cementing our commitment to continued investment in the retail sector.

“This is one of the largest retail centres to come under our ownership and we’re excited to get to work. We’re already in discussion with numerous tenants who will complement the scheme and the wider Northampton town centre offer.”