Construction go-ahead for £70m Stafford retail sites

Grant Prior 11 years ago
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Developer LXB Retail Properties has secured planning permission for two developments worth £70m in Stafford.

Construction is scheduled to get underway this summer at the Riverside and Kingsmead sites where anchor tenants have already been signed-up.

An edge of town centre retail scheme will be built at Riverside comprising about 200,000 sq ft of space and 1,200 car parking spaces.

M&S has signed a pre-let for a 25 year lease to anchor the scheme in a 65,000 sq ft two storey unit.

The Kingsmead development will include a 71,500 sq ft foodstore, 14,000 sq ft of associated retail space and 460 car parking spaces.

LXB has signed a pre-let with Morrisons for a 25 year lease of a new foodstore together with a petrol filling station on the site.

The developer said discussions are continuing with a number of retailers in respect of the other units at both Riverside and Kingsmead.

Tim Walton CEO of LXB Manager LLP said: “We are delighted to receive the council’s support.

“These are two extremely well located sites for which there is significant tenant demand. Both will significantly enhance the retail facilities in Stafford Town Centre and provide a major boost to the local economy.”

Mike Heenan, Leader of Stafford Borough Council said: “This is an important and very welcome investment to the Borough’s economy and we are really pleased the plans have now been given the go ahead.

“Recent focus has been on the problems experienced by town centres up and down the UK.  This scheme bucks that trend bringing significant new retail presence to our centre as well as hundreds of new jobs.”

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