| Cherwell Heights is a modern residential area in Banbury, Oxfordshire. A local builder had gained planning consent for a number of local shops and amenities. We bought the land with the existing planning permission. We divided the land into building lots and sold the plot that was earmarked for a local pub development to a brewery. We developed the remaining plots into mixed-use units. We leased the business premises to local sole traders, and we sold the residential leasehold units to a builder for development.
Also in Banbury, we bought an ageing 15,000 sq ft Co-op department store. We split it up into four units with 25 year commercial leases on the ground floor and residential leasehold units above. We attracted a national retailer, Argos; two local retailers; and a local gym as tenants. In Kettering, Northamptonshire, we bought another, much larger, department store from the Co-op. We divided the 50,000 sq ft of retail space into 15 units and attracted several national businesses including Argos, Poundstretcher, Co-op Travel, Bairstowe Eves, Connells, Countrywide and Staybrite Windows. |