New foodstore set for North Yorkshire

UK PROPERTY development and investment group Terrace Hill has announced plans to develop a new foodstore in North Yorkshire.

The group has agreed to acquire a  5.3 acre site in Stokesley and plans to develop a 1,394 sqm net foodstore with 173 car parking spaces and a petrol filling station, as well as access infrastructure including a new roundabout junction on the A172.
 
A public consultation process for the development is about to commence with a planning application expected to be submitted prior to the end of 2013. If planning permission is granted, Terrace Hill anticipates that the new foodstore will be open by Easter 2015, following a forward agreement with a foodstore operator and a 10 month construction phase.  Completion of the acquisition is conditional on obtaining planning consent for the development.
 
Philip Leech, chief executive officer of Terrace Hill, said: “Having completed the development and sale of three substantial foodstores earlier this year, totalling 189,265 sq ft, the conditional acquisition of this site in Stokesley adds to our pipeline of foodstore developments. 

“The pipeline now comprises two large developments in the planning process which are at Herne Bay and Middlesbrough, totalling approximately 225,000 sq ft, and a number of others which are under contract or review. We see considerable further opportunities in this specialist sector where we are firmly established as one of the market’s leaders.”