Morrison Developments has secured both funding and planning permission for its £16m Greyfriars shopping centre in Carmarthen, South Wales.
Clydesdale Bank, in a joint-venture with the Morrison, is financing the 8,361 sq m (90,000 sq ft) town centre scheme, on which work will start in July. The 25 unit development will be anchored by an existing Tesco store and the town’s bus station which will be refurbished.
“The deal that we have struck with Clydesdale Bank enables us to commence construction immediately, in order to take advantage of and satisfy the strong level of retail requirements for the town,” said Peter Walford, development manager at Morrison.
Carmarthenshire County Council approved Morrison’s detailed planning application for the scheme last week.
The developer acquired the site in February after Richard Branson’s Vanson Developments pulled out of plans to develop a covered shopping centre on the site.
Blair Kirkman is Morrison’s letting agent.
EGi News 28/05/97
