A revamped Peterborough shopping centre has taken another step closer to 100 per cent occupancy following a successful festive period and negotiations with a major retailer.
Cassco Holdings Limited, the new owner of Ortongate Shopping Centre, in Orton Goldhay, has already invested in and supported the local community with a seasonal event and a series of charitable donations. It is now in the final stages of a deal with a large UK retailer on two of the remaining units.
The name of the retailer will be disclosed upon the deal being signed but will signal another expansion of the facilities at the site. Just four 1,000 sq. ft units remain available to rent.
Nottingham-based Cassco Holdings bought Ortongate Shopping Centre from ALB Group in September 2024 for an undisclosed sum. Since then, managing director Rob Cassidy has continued to invest in the out-of-town retail centre with the refurbishment of the remaining empty units. All shop fronts have now been upgraded with fit-out of the last units to be completed in accordance with new tenants' requirements. Rob, 60, said:
“As a family firm, our focus has been to build and support the facilities that will secure a sustainable and growing retail centre at the very heart of this community.”
Cassco Holdings owns several retail and industrial sites around the country and has already demonstrated the firm’s commitment to the Peterborough centre.
Rob said: “Ortongate Shopping Centre is the beating heart of this popular residential area of Peterborough and it is now thriving. Our Christmas event was a great success and helped to increase footfall but it was just one part of our plan to draw this community together. We will continue to support its growth and build upon its thriving community spirit.”
Some £20,000 was invested in the Christmas event, which included decorations, Christmas trees and lights, free Santa’s grotto with gifts for the children, and cash set aside for charity donations.
Cheques totalling £2,000 have now been presented to local charities. Charities benefiting include Ortongate-based representatives from Goldhay Arts, YMCA, Mencap, and Sue Ryder.
Laura Cassidy, manager at Ortongate Management said: “We are delighted to have become part of the local community and our aim is to foster this sense of inclusion by putting Ortongate Shopping Centre at the very heart of that. Supporting the work that these local charities do has been an absolute pleasure.”
The shopping centre’s rise began when previous owner ALB Group took over the site in April 2023. At the time, it was barely half full. Investment and refurbishment work brought in more shoppers and traders alike and Ortongate soon surged to 80 per cent occupied. The group then sold the centre to Cassco Holdings Ltd.
The new owner has vowed to continue the investment begun under ALB Group’s tenure.
Arran Bailey, managing director of ALB Group, said: “Cassco Holdings shares our ethos when it comes to creating a sustainable and growing retail centre that serves the community."
“We turned around the centre’s fortunes when we bought it almost two years ago and I’m delighted that the new owner has picked up the baton and continued this work.”
Laura, 30, said: “Having worked with Arran on previous projects we were impressed by how he had turned the centre around in a relatively short period of time. It proves that with the right direction and investment, shopping centres like this have a promising future.”
Cassco Holdings owns 45 units at the 50-unit centre. Retailers at the site include Poundland and Greggs plus a range of hair and beauty salons, as well as service industries such as a vets and a pharmacy are also located at the shopping centre.
Interest in the final four ‘ready to move into’ units has already been demonstrated from both large and small retailers.
Four 1,000 sq. ft units are available to rent through property agent FHP. These could be combined to create larger units.
Laura added: “Community feedback and steady footfall over the Christmas period endorses our work and that of the previous owner. We aim to continue this trend.”
