Solihull’s £90m Touchwood Court town centre shopping scheme can proceed with its Compulsory Purchase Order following approval from the DoE.
However, the developers Gracemount Developments, IM Properties plc and Solihull Metropolitan Borough Council, still need to secure funding for the construction of the 27,870 sq m (300,000 sq ft) centre.
“We are talking to interested parties including property developers and funds,” said Peter Courtney of Lunson Mitchenall, letting agent on the scheme.
House of Fraser has already signed up to anchor the scheme in a 9,847 sq m (106,000 sq ft), but contrary to reports, C&A is yet to commit itself to a 2,322 sq m (25,000 sq ft) unit. “We have been in detailed negotiations with C&A,” said Courtney. “But it is fair to say we are considering other alternatives for that unit. I think the market is still evolving.”
Up to 70 individual units will be available as well, in sizes of between 23 (250 sq ft) and 929 sq m (10,000 sq ft), with rents likely to be in line with Solihull’s current £1,345 to 1,399 per sq m (£125 to 130 per sq ft) Zone A for units in the prime pitch of High Street. There will be about 1,100 car parking spaces.
Touchwood Court will link the High Street to Solihull’s library complex, when complete. Developers anticipate a December 2000 opening.
EGi News 14/01/97
