Development Securities subsidiary Henry Davidson Developments has pre-sold part of its 4.5-acre development site in Lawley, Telford, to LaSalle Investment Management for £12m.
The land will be developed into a 40,000 sq ft food store, prelet to Morrisons, and adjoining 2,400 sq ft of shops.
The Morrisons anchor and adjoining stores form part of the wider consented mixed-use scheme, which includes a further 13,300 sq ft of retail, 23 apartments, 16 town houses and ancillary uses.
Construction will begin on site imminently with practical completion due in the fourth quarter.
Henry Davidson Developments will act as development manager on the scheme and Clegg Construction, a Midlands-based construction company, has been appointed as contractor.
Scott Davidson, director at Henry Davidson Developments, said: “Our mixed-use scheme in Lawley represents a solid investment opportunity with a secure anchor tenant and strong retail and residential elements that are already attracting good interest.”
annabel.dixon@estatesgazette.com
