Following an initial land and property interest assembly exercise undertaken by us for SpenHill Properties, to accommodate a foodstore anchored mixed use town centre scheme also incorporating a hotel, ancillary retail, and high density residential, they obtained consent, but Tesco decided not to take the foodstore, and instead to dispose of this key town centre site.
We thereafter fully marketed the site, exploring a range of other redevelopment options, sought offers, and following a ‘beauty parade’, selected a property company to acquire this landmark town centre site, on a subject to planning, basis. However, with an increasingly complex planning environment and protracted timescales, Tesco decided to pursue a more immediate unconditional sale to the contracted party, and completed the sale, prior to the onset of the Cv19 Pandemic, in early 2020.
Advising (in conjunction with joint selling agents) on the sale of a high profile 5.4 acre gross employment designated site located in the Templefields industrial area. Exploring alternative use redevelopment options, and addressing site specific technical challenges (services, site and ground conditions) prior to concluding a sale to Chancerygate for a speculative B1, B2 and B8 scheme at record B2 and B8 employment land value levels in the town.
Acquired, unconditionally, on behalf of a client, this 9 acre employment site, containing over 100,000 ft2 of warehouse accommodation and extensive hardstanding located with easy access onto A120, following an Administrators tender.
Advised our owner occupier client (who intends rationalising their existing operations) on rents and land transaction evidence in the A120 corridor and scope to let and redevelop new space on the surplus hardstanding areas. Client completed the purchase within 7 weeks of first identifying.
Marketing advice provided to Tesco Stores Ltd on the freehold sale of a former car showroom occupying a prominent 0.75 acre site adjacent to the Tesco foodstore at Wellingborough. Various offers were received and terms were agreed for a freehold sale to Lok n’ Store for the redevelopment of the site for a high profile prominent self-storage unit.
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