St. Modwen, the UK’s leading regeneration specialist, has been given outline planning permission for a brand new, major retail development at Leicester Road in Rugby.
The 110,000 sq ft retail scheme forms an integral part of the next phase of development on the outskirts of the town and will deliver a mixture of bulky goods retail space aimed at major PLC occupiers.
The new development will complement the existing retail environment at Junction 1 Retail Park and will support the ongoing regeneration of the area that occupies a substantial site near the M6.
Peter Rudd, senior development surveyor at St. Modwen, said: “We’re pleased to have gained outline planning permission for the new retail environment at Leicester Road in Rugby. This forms an integral part of our aim to regenerate a former industrial site into a mixed use environment and follows recent land sales to Greene King for a pub/restaurant and Taylor Wimpey for new housing.
“We are in discussion with a number of major retail occupiers to take space at the new scheme and now that outline planned permission has been granted we look forward to being able to finalise these deals in the near future. An announcement on the tenant line-up will be made shortly.”
The site is situated 1.4km north east of the centre of Rugby and is located just 500m from Rugby railway station, which benefits from regular connections to London Euston and Birmingham Stations in less than an hour.
St. Modwen Homes, the housing brand of St. Modwen, is currently constructing 87 new homes as part of the new mixed-use development, including a mix of one and two bedroom apartments and three and four bedroom homes.