Three developers have been shortlisted for an 18,580 sq m (200,000 sq ft) retail scheme on a 7.28ha (18 acre) site close to the centre of Kidderminster, Hereford & Worcester. They are: Boots Properties; Chelverton Properties; and Centros Properties in partnership with Wimpey Property Holdings. The scheme will provide a food superstore, retail warehousing and leisure facilities.
The site, formerly the headquarters of carpetmaker Brintons, is being sold by a consortium made up of Brintons, Wyre Forest District Council, British Gas and First Bus. Colin Bell of Grimley is advising the vendors. He said that the land has been allocated for retail development in the new draft local plan, and its location within the town centre means that the development will comply with the latest planning guidance.
* Chelverton Properties has just sold 50% of its equity to the Australian-based property and finance group Lend Lease. As part of the deal the developer will gain £10m of new working capital which will support its development programme. Set up in 1991 by Matthew Cartissier, Chelverton has completed 13 retail developments totalling 46,450 sq m (500,000 sq ft). Cartissier said that the relationship with Lend Lease would help the company expand into mainland Europe.
EGi News 02/04/96
