St Modwen Technology Retail Park 100% pre-let ten months early

A WARWICKSHIRE business park has completed at 100% pre-let – ten months ahead of its scheduled opening.

The new multi-million pound Technology Retail Park in Rugby is under development by St. Modwen.

The 110,000 sq ft retail park has secured lettings from major retailers Homebase, Wickes, Pets at Home and Bensons For Beds.

Homebase has taken a 48,751 sq ft unit plus 10,000 sq ft for a garden centre; Wickes has taken a 26,597 sq ft unit plus 10,000 sq ft for a garden and external compound area; Pets at Home has taken a 9,942 sq ft unit; and Bensons for Beds has taken a 9,613 sq ft unit. These floor areas include first floor mezzanine space.

The lettings, a central part of the fourth phase of works, are said to complement the existing offer at Junction 1 Retail Park and support the ongoing regeneration of the area.

Peter Rudd, senior development surveyor at St. Modwen, said: “We have secured a great tenant line up prior to starting on site, which demonstrates the demand for units of this size and the strength of the site’s location. The new Technology Retail Park will play a central part of our new multi-million pound urban community on Technology Drive and is great news for shoppers and the local economy.”

The pre-let announcement follows the recent opening of the Greene King pub and the sale of land to Taylor Wimpey for new housing. The final phase of the scheme will include a further 175 homes, with public open spaces and landscaping.

St. Modwen’s residential business, St. Modwen Homes, is currently onsite constructing 180 new apartments and houses at Edison Place, which will benefit from the amenities developed in the first stage of the project and include nearly three acres of public open space, local play areas, landscaping, a wildlife area and pedestrian and cycle links.

The site is close to the £35m Warwickshire College, which was constructed by St. Modwen and opened in 2010.

Ramsdens acted as St. Modwen’s letting agent for the Technology Retail Park.