Leading retailer, Poundstretcher, has signed a new lease to expand its existing premises at Town Centre Securities’ Central Retail Park in Rochdale and commit to the scheme for the next ten years. Triton Construction are now on site constructing the new 5,000sq ft extension and completion of the works is expected in August 2016.
Central Retail Park is a multi-let retail park located to the south of Rochdale town centre and is home to established retailers Poundstretcher, Argos, Matalan and Halfords. Poundstretcher has signed a new ten year lease to extend its unit from 14,750 sq ft up to 19,750 sq ft due to continued successful trading.
Furthermore, Town Centre Securities has long-term plans to invest millions of pounds in expanding the whole Central Retail Park site, which includes planning consent to extend the entire retail park by 75,000 sq ft and also for a new drive-thru unit. This scheme could bring some 200 jobs to the local area and make a significant contribution to the ongoing regeneration of the Rochdale area.
Alistair Smith, Senior Asset Manager at Town Centre Securities PLC, said; ”The expansion of Poundstretcher demonstrates its successful trading at Central Retail Park and supports our long-term ambitions to expand the park and further invest into Rochdale”.
Leeds-based property consultants WSB have recently been appointed to market the scheme and they have seen positive expressions of interest to date.
Adam Mobley, Partner at WSB, said; “After only a short time of marketing the scheme, there has been a high number of interested parties that have contacted us, hopefully this will lead to some quick deals as planning is already in place. This new phase of the park will enhance the attraction of the scheme to local people and visitors, and will enhance the vitality of the area. These proposals will also have an economic benefit of providing new tenants and further employment”.