Proposals for latest stage in retail park’s redevelopment launched
Plans have been unveiled to redevelop a 35,500 sq ft retail unit at its JunctionNINE Retail Park in Warrington.
It has submitted a planning application for the third phase in the development of the park.
The unit earmarked for redevelopment has been pre-let to Home Bargains.
The Liverpool-based discount retailer is looking to significantly expand its presence in the area. It already occupies a 14,200 sq ft unit at the park.
Derwent Group’s plans for third phase development will ultimately provide a further 50,000 sq ft of prime retail space.
Another 40,000-plus sq ft of new space is planned for the fourth phase and will be developed on a pre-let basis.
JunctionNINE is strategically situated close to junction nine of the M62, boasting one of the longest retail park frontages in the UK.
It currently provides 200,000 sq ft of prime retail space with occupiers including Currys, Smyths Toy Superstore, Dunelm, Wren Kitchens, Iceland Food Warehouse, Starbucks, Dreams and Nandos.
James Maule-Ffinch, senior asset manager at The Derwent Group, said: “Home Bargains is one of the UK’s fastest growing retailers and owing to its ambitious expansion plan, together with the continued and ever-growing success of JunctionNINE, it was keen to expand its presence at the park.
“We have exchanged contracts on the proposed new unit and, subject to planning approval, will be built next year.”
CSP and Petch & Co are the appointed letting agents for the scheme.