Liverpool based commercial property consultants, Mason Owen, an adviser to TCD Estates, has sold Berwick-Upon-Tweed retail park, Loaning Meadows to LXi REIT, according to a report from Retail Focus.
Construction company, Caddick Construction has now started work on phase one of the site, which will consist of 6 units, headlined by Aldi and Home Bargains.
Iceland, Greggs, Costa and KFC will be taking additional units on the prominent site which sits on the main A1 ring road around Berwick-upon-Tweed, adjacent to an existing retail development featuring Morrisons, Travelodge and McDonalds.
Phase 1 is set to be completed later this year and will consist of over 55,000 sq ft in total.
Simon Bland, managing director, Mason Owen said: “We were delighted, together with Alasdair Coates of Coates Commercial to work with the team at TCD on the sale of Loaning Meadows to LXi REIT and achieve a successful outcome for this exciting new retail development. It is an excellent site which has attracted high demand for retailers and we will be looking to further secure retailers for Phase 2 of the development.”
