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ST. MODWEN SELLS WELLINGBOROUGH RETAIL PARK

St Modwen, the UK’s leading regeneration specialist, has sold Wellingborough Retail Park to Central England Co-Operative.

Situated on London Road, immediately opposite Castlefields Retail Park, the 3.5-acre former brownfield site had been vacant for sometime before St. Modwen’s Northern Home Counties region acquired it in October 2013. Permission was granted in April 2014 for a 35,000 sq ft development to include a discount foodstore, drive-thru restaurant and four retail units. Construction was completed in November 2015 with all units let or sold on a long lease. Tenants include Lidl, McDonalds, Starbucks, Subway and HSL Chairs.

Rupert Wood, Director for St. Modwen’s Northern Home Counties regional office said:

“We identified the site as having excellent development potential in a growth area in the heart of our Region and are delighted we have successfully been able deliver the Retail Park and create a thriving retail destination for Wellingborough. St. Modwen is very committed to further investment in the town, having earlier this year been appointed as Bovis Homes’ commercial development partner at Stanton Cross, where we will be delivering new retail, office and industrial buildings for the town.”

Stanton Cross, located to the east of Wellingborough Station, is a £900 million development to create a major new community of 3,750 new homes, 1.5million sq ft of commercial buildings, improved infrastructure, public facilities, green open space and will create in excess of 3,000 jobs. Work on new infrastructure, including new roads, to serve Stanton Cross is already underway, with planning applications for the early phases of the commercial development is expected in the first half of 2017.

Local agent Prop-Search and national advisors JLL represented St. Modwen in the sale of Wellingborough Retail Park.