The Trust has just taken control of the Cortonwood retail park in Rotherham following completion of the second phase that took the park up to 226,000 sf. Tenants include B&Q Warehouse Boots, Next, Argos Matalan and McDonald's.

And in Dartford, the trust already owns Phase 1 of the Prospect place retail park, where over 134,000 sf is is fully let to tenants including B&Q, Carpetright and Allied Carpets. Hercules has also entered into a forward commitment to purchase Phase 2 of the scheme which is due for completion in Spring 2004. Matalan has exchanged to take a 41,000 sf unit and Pizza Hut a stand alone restaurant comprising 3,189 sf.

The 208,000-sf Gallions Reach retail park in Beckton, East London, was originally developed by Castlemore Securities and forwarded funded by Pillar. It now appears that Pillar has created a new limited partnership to hold the scheme, with a 50% stake in this fund going into Hercules.