THREE MAJOR PRE-LET DEALS AGREED FOR THORPE PARK LEEDS

Developers have agreed lettings with three major retailers to take large units at Thorpe Park Leeds’ forthcoming Retail and Leisure Park. This concludes an active and very successful year for the award-winning scheme which is underway to deliver 1.65 million sq ft of mixed use accommodation.

M&S has secured a lease on a 13,000 sq ft store with a trading space of 9,000 sq ft. The retailer will relocate from its existing store in nearby Cross Gates. The new store, subject to final planning permission, will be double the size with a new 40-seater Café. As well as offering customers with an improved shopping experience and a broader selection of food and drink products the relocation will create a number of new jobs adding to 40 existing roles which will be transferred from Cross Gates to Thorpe Park Leeds

M&S anchors the scheme with Next which agreed terms last April to take 18,000 sq ft at the established Business Park.

A further deal has been agreed with Arcadia Group on a 10,000 sq ft unit for its out of town fashion store, Outfit. The store will carry a mix of brands including Topshop, Topman, Miss Selfridge, Dorothy Perkins and Burton.

TK Maxx, which is also taking 10,000 sq ft, joins the retail line up offering a large selection of top brands and designer goods.

Thorpe Park Developments Ltd (TPDL), a joint venture between Scarborough International Properties and Legal & General Capital, has also confirmed that detailed discussions are ongoing with a number of other retail and leisure operators, for the provision of a multi-screen cinema, gym and a range of restaurants.

Construction works are due to start on the 300,000 sq ft Retail and Leisure Park in summer, with the scheme opening for trade in Autumn 2018.

TPDL has also completed the construction of ‘Paradigm’, the first of the new office buildings at Thorpe Park Leeds. Paradigm offers 31,650 sq ft of exceptional business space set over three floors with an additional feature floor and roof terrace, adjacent to the M1 J46. Strong interest has been reported from a number of prospective occupiers and further office building projects are planned in the new year.

Thorpe Park Leeds will deliver a further 940,000 sq ft of Grade A office accommodation alongside the 300,000 sq ft Shopping and Leisure Park, and supporting uses include hotels and extensive parkland and sporting facilities.

Earlier this year Scarborough announced a deal with Redrow to sell part of the site for the construction of 300 new homes.

Mark Jackson, at Scarborough International Properties said: “We are delighted to announce these three significant deals for Thorpe Park Leeds following our agreement with Next Plc. M&S, Outfit and TK Maxx are all a very important part of the high quality retail and leisure offer for this landmark mixed-use scheme in Leeds, serving the local community and the 13,500 working population expected at Thorpe Park Leeds when it is fully built out. Additional lettings are in hand and we look forward to announcing these shortly.”

Thorpe Park Leeds is already a well-established 800,000 sq ft business park with over 60 occupiers including IBM, National Grid, Kier, Laing O’Rourke, Atkins, BAM and National Grid.

Scarborough International Properties has worked closely with Leeds City Council to develop the new plans for Thorpe Park Leeds and the critical infrastructure that it will deliver for east Leeds.

Phase two at Thorpe Park Leeds includes delivery of the first section of the ‘East Leeds Orbital Road’, a key piece of infrastructure connecting north and east Leeds to Junction 46 of the M1. This road will unlock land for the construction of up to 7,000 new homes in the East Leeds area, land that is either already allocated in the Local Plan or which is ‘brownfield’.

In August 2015 Legal & General Capital committed to invest £162 million into the project and became a 50:50 partner to fund future development works.