Turnstone Estates has let a further unit at its £20 million Army & Navy development on Parkway in Chelmsford to Evans Cycles.
The retailer has taken a 4,260 sq ft unit on a 15 year lease at a rent of £75,000 pa. Other tenants include an 81-bedroom Travelodge hotel, Frankie & Benny’s, Chiquito, Dreams bedding store, and 12 residential flats. There is parking for 80 cars.
Evans Cycles is the UK’s largest quality cycle retailer and has an existing store at intu Lakeside in Essex, but this will be the retailer’s first venture into Chelmsford and indeed the East of England.
Chris Goldsmith, managing director of Turnstone Estates, said: “Like the rest of the UK there has been a huge surge of interest in cycling within Chelmsford and the surrounding areas over recent years and Evans provides a high quality product and great cycling advice to customers. There is a successful mix of retail and leisure within the Army and Navy development and we are now marketing the final 5,000 sq ft at the property.”
Turnstone was advised by Rapleys and Wareing & Partners. Evans Cycles was advised by McMullen Wilson.