The owners of Peterborough One Retail Park, Targetfollow Group Ltd, advised jointly by Savills and SPACE – Retail Property Consultants, has let two units on the park to the Hebden School of Dancing Ltd.
The dance school has signed a new 10-year lease for space totalling 2,200 sq ft (204 sq m) and will occupy units 18 and 19 on phase one of the scheme. As part of phase two, the construction of an 18,500 sq ft (1,718 sq m) Aldi supermarket is now underway, with plans to open in June 2021.
Now 94% let, the success of both phase one and two has seen a proposal put forward for phase three. Set across 1.7 acres (0.6 hectares), there is potential for up to 30,000 sq ft (2,787 sq m) of retail, leisure, pub and D2 space, as well as other uses.
Edward Gee, associate director in the business space team at Savills Peterborough, comments: “The retail park is one of the city’s key out-of-town locations, benefitting from excellent access to both the A47 and A1 along with direct links into Peterborough city centre. Already home to a number of established retailers, it is the ideal location for the dance school and remains an attractive prospect for occupiers interested in the last remaining space.”