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Homebase, the UK’s second largest home improvement retailer, has exchanged contracts with St Modwen Developments Ltd for a 20,000 sq ft unit on Bridge Retail Park in Runcorn, on which it is taking a 15-year lease at an initial rent of £240,000 per annum.

Construction of the unit, which will include a 10,000 sq ft external garden centre and can provide an 11,000 sq ft mezzanine, will start in the New Year. A 9,000 sq ft retail warehouse adfjoining the Homebase unit will be built speculatively at the same time.

St Modwen is now marketing the speculative space to other occupiers. Paul Batho of St Modwen, said: “We are very pleased that Homebase has signed up for Bridge Retail Park which has a commanding position adjacent to Runcorn Expressway and is close to the town centre. We are in discussions with a number of other parties for the remaining accommodation and hope to announce further deals shortly.”

A spokesman for Homebase, said: “We are delighted to be opening a new store in Runcorn as this will make it even easier for our customers to create a better home.”

Cushman & Wakefield is acting for St Modwen in the letting of the remaining space.

For further information contact Paul Batho on 01925 825950. Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).