Fosse Shopping Park

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Fosse Shopping Park
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Fosse Shopping Park
Coordinates 52°35′53″N1°10′44″W / 52.598°N 1.179°W / 52.598; -1.179
Opening date1989;35 years ago (1989)
DeveloperLondon & Edinburgh Trust
Owner Crown Estate
Website http://www.fossepark.co.uk

Fosse Shopping Park is one of Britain's biggest out-of-town shopping parks and it is situated in Enderby parish, in Blaby district, on the southern edge of the city of Leicester, England. [1]

Contents

The retail park is in an area of mixed industrial and commercial development, about half a mile from Junction 21 of the M1, where it meets the M69. Junction 21 also connects the M1 with the A5460 (Narborough Road), from the centre of Leicester, and Leicester's main ring road, the A563. As of 2016, it is one of "about twenty" retail parks owned by the Crown Estate. [2]

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. [3] 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. [4]

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. [3]

In April 2021, Fosse Park West and the Food Central extension opened to the public, positioned on the land previously occupied by Everards Brewery. As part of the development there are 8 Tesla Superchargers. [5]

Stores

As of May 2024, notable retailers within the shopping park are: Boots, Superdrug, KFC, McDonald's, Marks & Spencer, Next, Primark, Sports Direct & USC, WHSmith, Toys "R" Us and JD Sports. [6]

Previous notable tenants of Fosse Park include: Olympus Outdoor World, Shoe City, Mothercare, Adams Kids, Wallis, Habitat, Dorothy Perkins, East Midlands Electricity, Sports Division, JJB Sports, Burton, Gap Inc., BHS, Focus Do It All, Comet and Outfit (including Topshop, Topman, Evans) and upon merging with Currys the stores of Carphone Warehouse and PC World were closed and moved inside of Currys.

A Tesla pop-up location opened outside of Marks & Spencer in May 2024. [7]

A new Toys "R" Us store opened in the new WHSmith store on May 25, 2024.

Transport

Fosse Shopping Park is serviced by Arriva Midlands bus services 50, 104, X6 and X84 alongside the Leicester Orbital service operated by Centrebus. [8]

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References

  1. ↑ "Out-of-town shopping park to change hands for £360m". The Times. 20 January 2006. Archived from the original on 12 June 2011. Retrieved 23 December 2007.
  2. ↑ "How much of the UK does the Queen own?". Daily Telegraph. 4 May 2016. Archived from the original on 13 May 2016. Retrieved 4 May 2016.
  3. 1 2 "What's all the fosse about?". Property Week. October 2010. Archived from the original on 20 August 2011. Retrieved 17 May 2011.
  4. ↑ "Fosse Park shopping centre for sale at £360m". This is Business. 25 June 2010.
  5. ↑ "Find Us | Tesla UK".
  6. ↑ "Now Open: JD Fosse Park | Opening Weekend | JD Official". 2 April 2022.
  7. ↑ "Instagram". www.instagram.com. Retrieved 6 May 2024.
  8. ↑ "Information". Fosse Park. Archived from the original on 9 November 2013. Retrieved 9 November 2013.
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