Tuesday, January 24, 2012

News: Dreams and Smyths open new stores in Rotherham


New outlets for Dreams and Smyths Toys are open at Cortonwood Retail Park after the construction of 32,500sq ft of new retail space was completed ahead of schedule.

St Paul's Developments appointed JF Finnegan to carry out the design and construction of the three new units, with CBRE acting as Development Monitoring Surveyor.

The developer secured pre-lets of 15,000sq ft to Irish toy retailing giant Smyths Toys Superstores and 10,000 sq ft to major bed retailer Dreams PLC prior to work commencing on site in May of last year.

An additional 7,500sq ft unit is available for occupancy and is being marketed by BNP Paribas and Jones Lang LaSalle.

Gary Smith, director at JF Finnegan, said: "Work has progressed well on site throughout all construction stages and we are delighted to have been able to hand over the new units ahead of schedule.

"Cortonwood continues to go from strength to strength with new tenants and is a superb example of former colliery site regeneration."

Over the last 20 years, JF Finnegan has constructed around 250,000 sq ft of retail units on the 50 acre site that was made possible by Enterprise Zone status. St Paul's Developments forward-funded Cortonwood Retail Park, which is on the Rotherham side of the border with Barnsley, and subsequently sold into the Enterprise Zone Tax investment market for £13m.

David Newton, managing director of St Paul's Developments, said: "To be welcoming yet more high profile retailers to our tenant mix at Cortonwood is fantastic news for both the development itself and the wider region.

"We are incredibly proud of the retail park and the success it continues to enjoy. The available 7,500sq ft unit presents an excellent opportunity for another tenant to join Cortonwood and our agents are currently handling interest in this space."

Discussions are also taking place regarding a further 95,000 sq ft of retail space on the site. Plans are being drawn up for six units of various sizes to replace existing the UPS distribution unit. Developers estimate that retail warehousing on the site would create 95 jobs.

St Paul's Developments website
JF Finnegan website
Cortonwood website

Images: JF Finnegan


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