Market Leads & Opportunities

Work underway on retail development

Source: https://www.insidermedia.com/news/national/work-underway-on-retail-development

Almscliffe-Dhesi Group (ADG) has begun work on a new retail-led centre on the outskirts of Peterlee in County Durham.Leeds-based ADG is transforming the disused and derelict Vauxhall Car dealership off Passfield Way into a new local convenience retail cluster.A number of tenants have already signed up for the 13,027 sq ft development, including national retailers Sainsbury’s, Tanning Shop, Cooplands and Dominos, together with CVS Vets and EVC Electric Vehicle Chargers. Only one 1,250 sq ft unit remains available to lease.Neil Creeney, who owns and runs ADG with his business partner Bal Singh, said: “It is tremendous news that work has now started on site. All being well, this high-quality retail development will be completed by August, making shopping much more convenient for local residents.”The development is within walking distance for many and includes 68 car parking spaces, with a provision of accessible bays, and eight electric vehicle charging points. It is clear that many local people would like to see the site developed and that there is definitely a demand for the proposed facilities in the area.”Pete Townsend, associate director with appointed letting agents @retail, said: “Following the design of a well-laid out and prominent scheme with endorsement from the local authority, the site has been fuelled by robust demand from a diverse mix of national tenants eager to invest into Peterlee and this prime site off the A19.”It is testament to the quality of the development that only a single unit of 1,250 sq ft remains available out of almost 13,000 sq ft of planned accommodation. This last remaining unit is perfectly situated between the Sainsburys and CVS Vets practice.”