Pillar Property

Gouldens completed this deal for long-term client Pillar Property, which purchased the 55-acre retail site from Castlemore Securities. Castlemore Securities recently bought the land, a former gasworks site, from BG Property Holdings, which is owned by British Gas. Although Castlemore originally planned to purchase and develop the retail park, the company has transferred the ownership of the site to Pillar Property.
Castlemore Securities has agreed to develop the retail park for Pillar Property. It is currently finding tenants for the 190,000sq ft of retail space. Boots, Tesco, Dixons, Superdrug and Next have already confirmed that they will open shops.
Gouldens partner David Roberts worked with one assistant to negotiate Pillar Property’s status as the site’s purchasing fund. Two assistants from Wragge & Co’s property group advised Castlemore Securities, with additional planning support from partner Dan Hemming. The planned retail park is one of the last out of town sites with open A1 planning consent.