A multi-million pound Warwickshire retail complex — still ten months away from completion — is now 100 per cent let.
Being built by St Modwen as the fourth stage of its rolling 70-acre regeneration scheme on Rugby’s Leicester Road, its latest 110,000sq ft Technology Retail Park will complement the nearby Junction 1 Retail Park [correct], close to the M6 motorway and the town’s railway station.
With ground work about to start, St Modwen’s senior development surveyor, Peter Rudd, said: “We have secured a great tenant line up prior to starting on site, which demonstrates the demand for units of this size and the strength of the site’s location.”
All four units include first floor mezzanine space. The 342-store Homebase chain has taken a 48,751sq ft unit for its new outlet, plus 10,000sq ft as a garden centre. Trade and home do-it-yourself supplier Wickes has leased 26,597sq ft unit with a similar 10,000sq ft external compound for garden sales.
Two smaller units have gone to Pets at Home which has leased 9,942sq ft and Bensons for Beds is taking a 9,613sq ft unit. The complex has been slated for a September, 2015, opening.
“The new Technology Retail Park will play a central part of our new multi-million pound urban community on Technology Drive and is great news for shoppers and the local economy,” added Rudd.
The Birmingham developer’s brownfield reclamation projects are within minutes of the new £35m Warwickshire College, constructed by St Modwen and opened in 2010.
And just days before its pre-let announcement the company — which claims to be Britain’s largest specialist regeneration developer — confirmed construction work had started on the Midlands’ largest Marks & Spencer store at St. Modwen’s £100m Longbridge town centre scheme.
The 150,000sq ft, two-storey flagship store is set to open for trading by Christmas next year together with a new six floor multi-storey and 500 space surface car park.
Up to 350 jobs will be generated by the new M&S Longbridge store, and a further 150 created during the construction process. The second phase of the town centre will include an additional 45,000sq ft of retail, restaurant and café space.
“Its vibrancy, connectivity and growing population makes Longbridge the right destination for one of our flagship UK stores,” explained Andrew Scanlan, head of retailer’s central west region. “This is a worthwhile investment for M&S and our long-term lease shows our commitment to this exciting new area of Birmingham.”
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