Rokeby Developments and Peveril Securities have unveiled the occupier line-up at its substantially pre-let and pre-sold, 10,000-m² mixed-use retail and leisure redevelopment in Swadlincote, South Derbyshire where construction started last week.
The 3.6 ha Coppice Side site will be home to a five-screen Curzon multiplex cinema, supermarkets Iceland and Aldi which bought their buildings, and household stores Argos, Peacocks and Home Bargains. Further names are expected to be announced shortly for the £15 million redevelopment.
Rokeby Developments managing director Adrian Goodall said: "This is a major achievement to begin work on a fully funded retail scheme in the current environment. It is the first in a series of new retail-led projects which we expect to announce over the next couple of months.
"We expect to have handed over Swadlincote to tenants for fit-out by July of next year and expect it will be trading by Christmas 2011. This scheme will play a major role in the regeneration of Swadlincote by encouraging people to work and shop in the town instead of leaving the locality."
The main contractor is Derbyshire-based family owned national development and construction company Bowmer and Kirkland.
Peveril Securities managing director Ralph Jones said: "We are very pleased to be investing in South Derbyshire again. What has made this such an attractive project is not only the site's tremendous potential witnessed by the pre-lets and pre-sales. But also the fact that we have been able to work with such a pro-active local authority that has shown a real determination to make projects happen.
The developers have committed to a £4 million restoration of the former Hepworth's chimney and four of the old factory buildings to pay homage to the town's illustrious industrial heritage. The four original buildings will be the main element of a new restaurant quarter for the site which is shortly to be launched.
Stephen Smart & Company and Knight Frank are advising on the retail and leisure elements of the scheme. Signet Planning is the planning adviser.
Source: MJ2 Limited