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16 February 2018

Case Study: Interchange Retail Park - Pre-Acquisition Assessment

Business Context

Interchange Retail Park is a busy retail park, located  on the south side of Bedford close to the A453.  Occupiers at the 170,000 ft2 site include Toys R Us, Matalan, Boots, Sports Direct, Outfit, Clarks, Pets at Home, Argos Extra, Next, TK Maxx, Costa, McDonald's.

Bedford Interchange Retail Park

The Challenge

Legal & General Investment Management commissioned FSP to help inform their purchase decision for Interchange Retail Park.

What we did

  • FSP undertook a detailed site review, supported by desk-based research and information held in our extensive databases
  • We used drive time software to model the catchment, evaluate population characteristics and expenditure and identify similar retail parks elsewhere in the UK for benchmark comparison
  • A review of pipeline retail developments was undertaken to identify future threats to trading performance
  • FSP analysed the trading performance and rent sustainability of each occupier at the site to evaluate income risk
  • We recommended a number of tenant, environment and marketing initiatives which would continue to drive value at the site post acquisition


Legal & General completed the acquisition of the site in April 2017 for £91.5m. FSP continues to work with Legal & General on a retained basis to provide support for ongoing leasing activity.