ST MODWEN COMPLETES SIMMS CROSS DEVELOPMENT IN WIDNES

Widnes Regeneration Ltd, the public/private partnership between St Modwen Properties PLC and Halton Borough Council, has completed construction of its 1,874 sq m (20,177 sq ft ) Simms Cross retail and offices scheme in the heart of Widnes town centre.

Eleven retail units, varying between 27 sq m ( 287 sq ft ) and 126 sq m (1,356 sq ft) have been developed together with Grenfell House, 873 sq m ( 9,395 sq ft ) of first floor offices, available from 392 sq m ( 4,226 sq ft).

Three of the retail units has been let very quickly after completion to Domino’s Pizza on a 20-year lease at an annual rent of £20,000, to The Emperor, a Chinese restaurant , on a 15-year lease at £18,560 per annum, and Goodeez, a sandwich and coffee bar, on a 10-year lease at £4,000 a year. Another two units are under offer and there is strong interest in the remaining six units. Simon James of St Modwen, said: “The development was designed to improve the link between the existing town centre and the new Asda superstore. Interest in both the retail and office element is strong and we are confident that the correct mix of tenants can be achieved which will create a positive regeneration of this important part of Widnes Road. The offices provide flexible high quality accommodation in one of the few specualtively built office schemes in the town centre.”

Coun. Tony McDermott, leader of Halton Borough Council, said: “The Simms Cross development is the latest in a string of investments over the past ten years, totalling more than £20 million. This has expanded the retail and service base making Widnes an exciting investment opportunity.”

Cheetham & Mortimer is acting for Widnes Regeneration in the letting of the retail and offices space.

For further information contact Simon James of St Modwen (01925 825950). Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).