Pre - let to NEXT in Bracknell leads retail warehouse lettings
Land Securities has received planning consent for the ongoing redevelopment of the Peel Centre, located in Bracknell town centre. The reconfiguration of the former MFI unit on the park will accommodate a 20,000 sq ft unit pre-let to NEXT and provide additional retail units totalling some 15,000 sq ft.
The size of the store will enable NEXT to offer a full product range when it opens later in the year. Other retailers on the 165,000 sq ft park include Tesco Home Plus and Morrisons.
Nick Duffield, Portfolio Director for Land Securities retail warehousing, commented on the successful planning application: “The reconfiguration and pre-let to Next is the latest step in the rejuvenation of the centre which has been underway since 2008. The enviable town centre location and expanding retail line up at the Peel Centre will be a major draw for other retailers and we are confident that this will be reflected in strong demand for the remaining space”.
In addition to the planning consent, a further 60,000 sq ft of lettings has been concluded within the retail warehousing portfolio in the last month. Pets At Home is the latest retailer to join the Derwent Howe retail park, Workington, taking the 8,000 sq ft store former Allied Carpets store at £14 per sq ft. In the North West, Wren Kitchens continues its expansion plans by signing a 10 year lease for a 5,200 sq ft unit on the Greyhound Retail Park, Chester at a rent of £125,000 per annum.
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