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Construction of Hempsted Shopping Centre in Peterborough is due to commence at the end of September 2013, as Sheppard Developments Ltd prepares to go on site.
The scheme, which Savills is jointly appointed to lease with Nottingham based Trafford Oliver, will see over 10,500 sq ft (975 sq m) of retail space developed by August 2014 approximately two miles south of Peterborough city centre in addition to 14 residential apartments.
Tesco will anchor the scheme having agreed to occupy a 4,000 sq ft (372 sq m) convenience store and a pre-let has also been agreed to Barnardos, the UK’s leading children’s charity, as well as other occupiers.
Approximately 3,876 sq ft (360 sq m) remains available with units ranging from 875 sq ft (81 sq m) to 1,015 sq ft (94 sq m).
Paul Farrow, head of Savills Peterborough, comments: “Hempsted is an expanding area of Peterborough which is growing rapidly having already seen an increasing amount of residential development, and more planned for 2013/2014. With the benefit of ample on site parking for customers, the shopping centre will offer customers ‘drive-to’ accessibility. As a result the remaining units are already generating significant interest from both local and national occupiers”.
Charles Trafford, director of Trafford Oliver, adds: “We have noticed a genuine increase in interest from the occupier market and this has proved to be the catalyst for Sheppard Developments to get this scheme underway. The development represents a substantial investment and the centre will provide a convenient shopping offer for the local residents, as well as creating a significant number of new jobs. All of this is great news for the area.”
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For further information, please contact:
Paul Farrow, Savills Tel: +44 (0) 1733 201 387
Edward Gee, Savills Tel: +44 (0) 1733 209 906
Kirsty Mitchell, Savills press office Tel: +44 (0) 20 7409 8887