Wm Morrison has won the tender to operate the food superstore anchor at Gazeley Properties and Railtracks Norwich Riverside development.
Morrisons is taking a 125-year lease at a peppercorn on 2.9ha (7.18 acres). It will start building a 7,618m2 (82,000 sq ft) store with 500 parking spaces in January 1998. Asda, Gazeleys parent company, and all the other main food retailers were also approached about buying the site.
Peter Gomersall, development director at Gazeley, said part of the money would pay for £6m of land reclamation and infrastructure works which will start next month. The whole scheme involves 17ha (42 acres) of mainly derelict land between Norwich station and the River Wensum. It will include a commercial leisure scheme, anchored by a 14-screen UCI cinema and a Rank Hot Shots bowling centre and nightclub, and a retail park.
Chase & Partners and Knight Frank are the agents.
EGi News 12/06/97
