Work has begun on the £7 million redevelopment of a three-acre site in Little Lever, Bolton which will see it deliver a 29,500 sq. ft. Tesco food store.
Peveril Securities Ltd in partnership with Manchester-based Real Estate Development Partnerships Ltd acquired the site in November 2013 in a deal worth £3 million.
Contractor Bowmer & Kirkland is developing the food store, which is due to complete in July this year and will create up to 150 jobs for the region.
Managing Director of Real Estate Development Partnerships, Damian Flood commented; “We are delighted to have started work on the Little Lever site. This type of part progressed development strongly appeals to the business model we have created with Peveril Securities. We look forward to seeing the development progress over the coming months. ”
This acquisition is the third joint venture for Peveril Securities and Real Estate Development Partnerships, who joined forces in 2010 for Halls Retail Park, Bury and more recently the 130,000 sq.ft. mixed-use scheme Howard Town in Glossop, which has been brought to market by Tushingham Moore.