GUD Pension Trust has committed £15m to the development, in partnership with Audley Developments, of retail warehousing in Wrexham, Clwyd, and Truro, Cornwall.
In Truro, GUD is forward funding Audley’s Treliske Retail Park, where consent exists for 6,039 sq m (65,000 sq ft) of non-food retail space. Of this, 4,181 sq m (45,000 sq ft) is pre-let to Homebase and Shoe City. Completion of the development, with an end value of £7.5m, is due for March 1997.
A planning application has been submitted for a second phase of 1,858 sq m (20,000 sq ft) on an adjoining site, which would have an end value of £2.3m.
In Wrexham, GUD is to develop 6,039 sq m (65,000 sq ft) of retail warehousing and a 2,323 sq m (25,000 sq ft) cinema on the Plas Coch Retail park, north of the town centre on the A483. A rent of £96.88 per sq m (£9 per sq ft) is being quoted for the retail space. This scheme will have an end value of £11m.
Savills advised GUD and Thorpe Stone Associates introduced the Truro site.
EGi News 17/09/96
