Salmon Harvester Properties sells 58,000 sq ft town centre scheme for £21m
Construction of the 20-unit, 58,000 -sq ft town centre scheme started in August 2016, with building works being completed in December 2017. Occupancy is at 85 per cent and tenants include retailers M&S Simply Food, Boots Chemist, Specsavers, Card Factory and Boots Opticians. Restaurant and café operators include Gusto, Greene King, Prezzo, Loungers, Café Nero and Le Bistro Pierre. The tone of rents achieved across the scheme is £25 – £28 per sq ft with lease terms ranging from 10 to 25 years.
Salmon development director Rorie Henderson said: “The speed with which we completed the acquisition, planning implementation, building, letting and sale of this holding are all testament to the strong location with its extraordinary set of local demographics, an excellent product and a motivated development team. This site had remained dormant since 2010 and Salmon’s winning formula for the revitalisation of Mere Green town centre has been well received by the local community.”
Rowley Hughes Thompson and DMR are letting agents and nvestment agent HSM acted on the sale.