Multi-million pound forward funding deal sealed for drive-thru park
A £4m forward funding deal for a drive-thru roadside park in Telford has been agreed.
3 Willows, advised by Savills, has secured London Metric as funding partners for the 7,050 sq ft Forge Island.
The park will comprise three purpose built drive thru restaurants with tenants Burger King, KFC and Costa Coffee.
The site totals 2.4 acres and includes around 80 car parking spaces.
Located directly off Junction 5 of the M54, the scheme is close to nearby Telford Forge Shopping Park and Telford Bridge Retail Park, home to occupiers including TK Maxx, Argos and Halfords.
The park is expected to complete in Q4 2018.
Richard Fletcher-Brewer, associate director in the investment team at Savills, said: “We are delighted to have secured funding for this new drive through park on behalf of our clients. Forge Island benefits from an attractive tenant line up and a roadside location that is popular with complimentary occupiers.”
Carl Stacey, director of 3 Willows, added: “We are delighted to be working with MIPP in delivering what we believe is a unique and high quality scheme in Telford. It has taken a number of years to get to this point and we are grateful to all of our team and consultants for their commitment and dedication”
