AEW UK Investment Management has announced that it has acquired 113-115 Peascod Street for £1.95m for its Urban Real Estate Fund (UREF). Peascod Street adjoins Windsor Yards shopping centre which AEW bought in March this year. The units in Peascod Street cover 14,240 sq ft over basement, ground, first and second floors and are currently occupied by River Island and Superdry.
At Windsor Yards AEW has let, or extended the leases, on eight units in the centre, which is located in the heart of Windsor’s shopping district, next to Windsor Castle. Acquired by AEW’s Urban Real Estate Fund Windsor Yards offers exciting asset management potential to ensure that the shopping centre best meets the needs of the town’s residents, businesses and visitors.
Four units have been let to an exciting range of tenants including Clarendon Fine Art (1474 sq ft, on a ten-year term), and MooBoo Bubble Tea (550sq ft, on a five-year term). Alongside conventional retail and F&B operators, the fund has completed shorter-term lettings to alternative uses including co-working space operator, Circa 45, (11,358 sq ft for a three-year term) and the NHS.
In addition to the new tenants, existing tenants have confirmed their commitment to the scheme with lease renewals having completed with Robert Gatward Jewellers (4,128sq ft, ten-year term) and Pret A Manger (1,772 sq ft, five years from October 2026) and Swarovski (491 sq ft, on a three-year lease from November 2024).
Charles Royle, Portfolio Manager at AEW UK said: “When we acquired Windsor Yards Shopping Centre, we realised the potential to transform the scheme into a vibrant mixed -use destination to better meet the needs of Windsor, its visitors and its community, so we are pleased to have secured these popular occupiers. We also welcome the interest seen from operators outside the conventional retail and food & beverage operators which help to diversify the tenant mix”.
