New owner sees a bright future for Peak Shopping Village
Situated in the village of Rowsley, on the edge of the Peak District National Park, the Peak Shopping Village has been bought by the Devonshire Property Group Ltd (DPG) which says the outlet centre has “exciting potential”.
The company has acquired the Peak Shopping Village site for an undisclosed sum with the intention of growing customers and jobs through a fresh approach based on its local expertise. The Devonshire Property Group is a part of the Devonshire Group of companies that represent the interests of the Duke and Duchess of Devonshire and includes nearby Chatsworth, as well as Bolton Abbey in Yorkshire and Lismore Castle in Ireland.
Located in the Derbyshire Dales, just three miles from Chatsworth, DPG approached the previous site owner, a significant property investor in multiple countries, and completed the sale today (11 January 2021) following several months of negotiations.
DPG will work with the existing management team to improve the site, with immediate actions to include some essential repairs and redecoration. By revitalising the customer experience at Peak Shopping Village, with more units occupied and stronger marketing, DPG aims to boost footfall for the benefit of all occupants. There are no current plans to expand the site or create a discount Chatsworth Gift Shop or Farm Shop.
More than 30 shops currently operate at Peak Shopping Village, which employs between 80 and 100 people. National names such as Pavers Shoes, Leading Labels, The Gift Company and Regatta operate alongside independents such as The Woolroom. The Peak Shopping Village site hosts events year round, including regular Makers Markets showcasing the talent of local artisans, and its biggest event, the ‘Peak Festive Spectacular’ at Christmas.
The Devonshire Group believes Peak Shopping Village is perfectly located as a gateway to the Peak District National Park and the Chatsworth Estate. It views the purchase as a long term investment and an opportunity to create both a local retail outlet for the community and an exciting retail leisure destination for visitors to the Derbyshire Dales.
The Devonshire Group has strong experience in retail through its existing operations at Chatsworth (the estate farm shop and gift shops) and at Bolton Abbey and is a landlord to many retail outlets across its estates.
Lord Burlington, the Duke of Devonshire’s son, and Stephen Vickers, CEO of the Devonshire Group have been heavily involved in the planning and negotiation of the purchase.
Stephen Vickers: “We believe Peak Shopping Village has exciting potential and we see a bright future for jobs and growth. Our ultimate aim is for the site to realise its full potential as an important contributor to the fabric of the local economy, and we will be developing our plans for achieving this in the coming months.”
Lord Burlington: “Our team has the experience and expertise to help to reinvigorate Peak Shopping Village so that it’s a better experience for shop owners and those who use the office space. We are determined to make it the best it can be, both for our local communities and for the experience of visitors to the area. For us, it’s an exciting, long-term investment in Derbyshire, at the gateway to the Peak District National Park and the Chatsworth Estate.”
This investment is unrelated to any of the visitor facing businesses at either the Chatsworth or the Bolton Abbey Estates. The purchase is a capital transaction funded from the sale of commercial assets in Eastbourne.
The nearby conservation area and nature trail managed by the Derbyshire Wildlife Trust is part of the sale and the Devonshire Group aims to support it in future with a renewed education focus and experience for visitors to the shopping village. The nearby allotments are not part of the sale.
The Devonshire Group comprises the Duke and Duchess of Devonshire’s interests, charities and businesses throughout the UK and Ireland, including Chatsworth, which sits within the Derbyshire Estate, the Bolton Abbey Estate in North Yorkshire, the Lismore Estate in County Waterford, and the Compton Estate in Sussex.
The businesses include visitor attractions, shops, restaurants and luxury accommodation at Chatsworth, Bolton Abbey and in Lismore Castle in Ireland. The estates include tenanted businesses and residential property, a property development business with a pipeline of 2000 homes, sustainable forestry and farming businesses and an estate farm shop at Chatsworth. The Devonshire Group employs approximately 1,400 colleagues across their estates which spread over 65,000 acres.
The group is committed to benefitting heritage, people and a shared future, by preserving, restoring and enhancing their heritage assets, by being a significant contributor to their communities and by being seen as a leader in the way they do things.
Devonshire Property Group
Devonshire Property Group is part of the portfolio of Devonshire Group businesses set up in 2016 to deliver the wider group’s property ambitions in the management and development of both residential and commercial property.
The wider group’s ambitions are evidenced in the published ‘Our Commitment to our Shared Future, 10 goals for 10 years’ document, and specifically ‘Goal 1 – To enable the creation of 1000 homes for local families and 1000 jobs for local people’.
The Property Group has a pipeline of residential development sites in both Derbyshire and Yorkshire that will deliver over 2,000 new homes over a 20 year period. Creating good places for people to live and for communities to thrive. In addition, the Property Group has a pipeline of almost 100 acres of land suitable for various commercial, retail and leisure uses, that will provide valuable employment opportunities with spaces for businesses to grow.
Devonshire Property (Retail) Ltd
Devonshire Property Retail is a subsidiary company of Devonshire Property Group, and has been specifically established to manage, invest in and revitalise the Peak Shopping Village in the village of Rowsley on the edge of the Peak District National Park and the Chatsworth Estate as part of a long term commitment to the local area and its economy by the wider Devonshire Group.