01 September 2011
Work has begun on a new retail development in the popular market town of Northallerton. Based on the former Charlie Brown’s depot and carwash site, Lowesgate Yard development is already proving popular with specialist retailers.
Based on the former Charlie Brown’s depot and carwash site, Lowesgate Yard development is already proving popular with specialist retailers.
Following deals with Majestic Wine Warehouse and Pets at Home, taking 5,300 sq ft and 3,000 sq ft respectively, the site is already 100% pre-let. The new stores will be located opposite Homebase and Halfords, adjacent to Sainsbury’s at the northern end of the high street, a prime site for redevelopment.
Sanderson Weatherall’s in-house architecture and planning team secured full planning permission in the spring followed by the completion of deals by its retail agency department.
Caddick Developments Ltd were brought in at an early stage to work in partnership with the landowner, to provide funding and development expertise on the 8,300 sq ft scheme, and enable the maximum value of the site to be realised.
The building work is being undertaken by Caddick Construction Ltd with completion scheduled for March 2012.
Partner for Agency at Sanderson Weatherall LLP, Andrew Wilkinson, said: “To have agreed a 100% pre-let scheme in the current market is excellent news for our client and has really showed what can be achieved with a multidisciplinary team approach.
“I would encourage anyone with vacant sites or properties where income is coming to an end or is looking uncertain, to consider the merits and possibilities of development.
“It’s critical that those wishing to pursue this type of opportunity get advice from people that have sound local market knowledge and a watchful eye on the created end value of developments.”
Director at Caddick Developments, Myles Hartley, said: “We were delighted to be involved in this development and is an excellent opportunity to showcase our expertise in what remains a challenging commercial property market.”
For more information on developments please contact Andrew Wilkinson on 01642 426925.