Three new retailers added to Cumbrian retail warehouse scheme
Developer and asset manager Chancerygate has secured three new retailers at the Gateway 44 retail warehouse development near Carlisle, acting on behalf of Carlisle City Council.
Wren Kitchens has agreed to take a 15,000 sq ft store on a 10-year lease and Oak Furnitureland has committed to a 10,000 sq ft unit, also on a 10-year lease. Costa Coffee has pre-let a 1,800 sq ft drive-thru unit for a term of 15 years.
Due for completion by May 2020, Gateway 44 will provide a total of 42,300 sq ft of new retail space, with 15,500 sq ft still remaining in units from 2,500 sq ft to 8,000 sq ft.
The site will also benefit from 181 customer car parking spaces.
International real estate advisor Savills, along with Carigiet Cowen, has been appointed to market the remaining space.
Gateway 44 is prominently located, immediately adjoining junction 44 of the M6, and is a natural extension of the popular Kingstown Retail Park, with nearby existing retailers including Asda, M&S Food Hall, Currys PC World and Next.
Chancerygate development director, Mike Walker, said: “These pre-lets from Wren, Oak Furnitureland and Costa show the attractiveness of Gateway 44 as a prime Grade A retail location.
“There is a real momentum behind the development, with just over a third of space remaining. Chancerygate will continue its focus on delivering a high-quality, long-term investment asset for Carlisle City Council.”
Stephen Proudley, retail director at Savills, said: “With its prime location and close proximity to a range of nearby retailers, the new Gateway 44 development is a fantastic opportunity to acquire high-specification retail space at this new retail park.
“With three high-profile retailers having already committed to the scheme we’re expecting good interest in the remaining units.”
Leader of Carlisle City Council, cllr John Mallinson, added: “Carlisle is a growing city and this new development will create more jobs and will provide a boost to the local economy.
“We encourage other retailers and businesses to invest in Carlisle. The city has a lot to offer and is an ideal location for established and new businesses.”