Frasers Group has acquired Waterfront Retail Park in Greenock, Scotland, from HKIP for an undisclosed sum. The town-centre scheme totals just over 90,000 sq ft of retail warehousing and drive-through space, with tenants including Currys, Halfords and Pets at Home.

The sale followed the park reaching 100% occupancy after Farmfoods signed a long-term lease on the former SCS unit. During its ownership, HKIP’s asset management programme broadened the tenant mix, adding JD Gyms, Home Bargains, Costa Coffee and Pizza Hut to strengthen day-to-day appeal.

Knight Frank acted for HKIP, with Sims Retail representing Frasers Group. The deal is Knight Frank’s second sale to Frasers Group in quick succession, after the retail group’s purchase of Rose Street Retail Park in Inverness.

The acquisition underlines continued investor interest in well-let, convenience-led retail parks that pair essential retail with food-to-go and fitness, and benefit from ample parking and easy access. With the Greenock park fully occupied at completion, Frasers Group secures a stabilised Scottish asset aligned to its focus on resilient, value-orientated locations.

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