Chartwell Land - Retail - Walsall, Town Wharf Retail Park

Date: 14 Apr 2000

Chartwell Land, in partnership with Walsall MBC, is to develop a 15,793 sq m (170,000 sq ft) retail park to be known as Town Wharf Retail Park. The development follows the partnership's earlier success with Town Wharf Phase I which provided 8,546.8 sq m (92,000 sq ft) of prime retail space for Walsall Town Centre.

The retail park should be trading by October 2001. Construction will commence at the end of 2000 following relocation of two existing site occupiers. A new 929 sq m (10,000 sq ft) store will be constructed for Holiday Hypermarket and Albert Jagger Ltd, a local engineering company, will move to a new 3,251.5 sq m (35,000 sq ft) unit.

Pre-lets to TK Maxx, Courts, Powerhouse, JD Sports and North Shoe have already been secured on 7,664 sq m (82,500 sq ft) of space by joint letting agents Edgerley Simpson Howe and Lambert Smith Hampton, who are achieving rents of £14 per sq ft. Another 2,322.5 sq m (25,000 sq ft) of space is under offer.

David Gregory, New Schemes Director at Chartwell Land comments: "We are aiming to develop a high quality retail park with a broad tenant mix embracing traditional bulky goods retailers and high street fashion."

Councillor Withnall, Leader of the Council comments: "The commitment of this next phase of the Town Wharf scheme is great news for the town. It will boost what has already been achieved, by redeveloping a run-down quarter at an important entrance to the town centre. It will stimulate further leisure development on the canalside to complement the Gallery and Wharf Bar and it is expected that these further proposals will come forward in the next few months."

Chartwell Land estimates the investment value of the completed retail park will exceed £30 million.

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