Turnstone Estates has struck a development agreement with the Whitbread family’s Southill Estate to provide a 175,000 sq ft mixed-use scheme in Bedford.
The development, called Interchange South, sits on an 11.4-acre site on Ampthill Road. It has scope for a scheme consisting of retail, drive-thru restaurant units, trade counter space, industrial, warehousing and offices.
One of the plots has already been pre-sold to Lidl to deliver a new food store. Turnstone is seeking prelets on the rest of the scheme, with buildings potentially ranging from 5,000 sq ft to 40,000 sq ft.
The developer said it aims to submit a planning application for Interchange South “shortly”.
Tim Deacon, director at Turnstone Estates, said: “Interchange South offers a superb opportunity for occupiers wishing to take advantage of a great location, being close to the prime out-of-town retail parks and also highly accessible for the A421. We expect to attract occupiers for a wide range of uses.”
Andrew Hodgkinson, regional head of property at Lidl GB, said its new store represented “an extensive investment into the local area as well as the creation of new jobs”.
Matthews & Sadler and HCR advised the private landowner on the development agreement, while Howes Percival acted for Turnstone. Savills is the letting agent on the scheme.
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