Sovereign Centros, the UK retail investor and asset manager, and Orion Capital Partners, have signed leading discount supermarket Aldi to launch the £15 million development of the Northern Quarter at Telford Shopping Centre.
This is the third major retailer to have signed in the space of a week and reinforces the centre’s attraction as a regional shopping and leisure destination.
Aldi has committed to a 20-year lease on a 19,500 sq ft anchor store in the new Northern Quarter development which will deliver an additional 70,000 sq ft, comprising shops ranging from 7,000 to 25,000 sq ft in size. Aldi will open by Christmas next year.
The development sits immediately adjacent to an 800-space surface level car park and forms the gateway to the town centre, being highly visible from the M54 motorway. The works will also include a reconfigured entrance into The Border mall and major landscaping improvements.
The Northern Quarter is one of three major development schemes which are underway at the 1.2 million sq ft centre. The fashion offering is being enhanced by the creation of a new Fashion Quarter where Next and New Look have both committed to new format large stores. New restaurants will open for Easter 2017 in the newly built Southern Quarter adjacent to an 11-screen IMAX cinema.
Alexandra Pugh, Senior Leasing and Asset Management at Sovereign Centros commented: “We are delighted to announce Aldi as a new arrival to bolster the all-round retail offer at Telford Shopping Centre. Our customers have highlighted the need for a new food store and we are delighted to have secured one of the UK’s fastest growing supermarkets. We are already in detailed discussions with a host of other retailers new to the town, and will be making further announcements in due course.”
“Our continued investment in Telford Shopping Centre, including the new Fashion and Southern Quarter developments, will reaffirm Telford’s status as the region’s dominant retail and leisure location.”