News releases

Schroder UK Property Fund adds Chelmsford Retail Park to its portfolio

Schroder UK Property Fund (SPF) is today announcing the completion of The Meadows Retail Park, Springfield Road in Chelmsford for £19.7 million, reflecting a 6% net initial yield.

25/02/2014

Schroder UK Property Fund (SPF) is today announcing the completion of The Meadows Retail Park, Springfield Road in Chelmsford for £19.7 million, reflecting a 6% net initial yield.

The Park comprises of 61,119 sq ft of total space and features key retailers including Argos, Maplin, Blacks, Mothercare and pub chain Yates. The scheme also includes 273 car spaces generating further direct income.

The Meadows Retail Park is situated directly adjacent to the Meadows Shopping Centre, is highly visible from the High Street, and is well positioned to benefit from the proposed town centre developments within Chelmsford. The Park has excellent transport links this combined with the location is a significant draw for the affluent Chelmsford catchment population of approximately 233,000 people, which is only set to increase with the proposed developments.

Originally developed in 1995, The Meadows Retail Park is currently configured to provide eight individual units arranged as four warehouse units, three smaller retail units and a leisure unit.

James Lass, SPF Fund Manager, commented:

"The Meadows Retail Park further strengthens Schroder UK Property Fund’s position as a leading investor in the South East retail park sector. It provides us with several significant active management opportunities and supports our long standing strategy of buying well located in-town retail parks in key affluent areas with units let off low base rents to retailers who trade well from the location.”

Morgan Williams acted for the vendor and CBRE for Schroder Property Fund.

For further information, please contact:

Estelle Bibby, Senior PR Manager, Schroders

Tel: +44 (0)20 7658 3431 / estelle.bibby@Schroders.com

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Schroder Property Schroders has managed property funds since 1971 and currently has £10.6 (€12.7 /US$17.2) billion of gross property assets under management (at 30 September 2013).

Most of the property funds referred to are unauthorised collective investment schemes as defined in the Financial Services and Markets Act 2000. Promotion of these funds is restricted and access to full information about these funds is only available to those exempt from the restriction.

For further information about Schroders’ property business visit www.schroderproperty.com

Schroders plc

Schroders is a global asset management company with £256.7 billion (EUR307.2 billion/$415.8 billion) under management as at 30 September 2013. Our clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors.

With one of the largest networks of offices of any dedicated asset management company, we operate from 37 offices in 27 countries across Europe, the Americas, Asia and the Middle East. Schroders has developed under stable ownership for over 200 years and long-term thinking governs our approach to investing, building client relationships and growing our business.

Further information about Schroders can be found at www.schroders.com.

Issued by Schroder Property Investment Management Limited, which is authorised and regulated by the Financial Conduct Authority. For regular updates by e-mail please register online at www.schroders.com for our alerting service.