Sainsbury’s store programme lifts Terrace Hill
Specialist retail developer Terrace Hill said today it was pressing ahead with 600,000 sq ft of new schemes in spite of the supermarket slowdown. Chairman Robert Adair said:
"Whilst there has been some slowdown in the expansion of Tesco we are continuing to receive good interest in our sites from the other major operators. We continue to make good progress with all our committed foodstore development sites and are advancing a number of new opportunities."
The firm said it had no prospective deals with Tesco and Marks & Spencer, which have curbed expansion plans, but was still seeing strong demand from other food retailers.
Development pipeline
London Road, Whitchurch
Site sold to Sainsbury’s with the benefit of a detailed planning consent for a 55,000 sq ft foodstore and petrol filling station.
Wessington Way, Sunderland
Construction of 99,000 sq ft Sainsibury’s now well under way with completion scheduled for early Spring 2013.
Skelton, East Cleveland
Detailed planning permission for this 42,000 sq ft Asda development finally granted. Forward funding has been secured at £13.5m with construction due to start this month.
Sedgefield, Co. Durham
Construction to start shortly on 50,000 sq ft Sainsbury foodstore plus a petrol filling station.
Altira Park, Herne Bay, Kent
Achieved a pre-lett agreement with Sainsbury’s for a 95,000 sq ft store plus petrol filling station. Planning application due to be submitted towards the end of this year.
Middlehaven, Teesside
Application will go in for a large Sainsbury’s foodstore at the end of this year. Also agreed terms for the sale of land to a pub operator and two fast food outlets on the 16 acre site.
Hyde, Greater Manchester
Subject to planning consent, terms agreed with retailer for strategically located site adjacent to the M67 to the South East of Manchester.
Prestwich, Greater Manchester
A planning application for a foodstore-led development expected by the end of this year.
St Austell, Cornwall
Development partner for Cornwall Council for a large foodstore for either Morrisons or Sainsbury’s. A detailed planning application will go in this autumn.