Sainsbury's signs Shropshire contract
Supermarket giant Sainsbury’s has exchanged contracts for a new development in Whitchurch, Shropshire. Developer Terrace Hill has conditionally acquired a 30,000 sq ft site and intends to submit a planning application for a superstore and car park “later this year”.
Contracts have been exchanged between the two parties and work is set to begin on the London Road site once planning permission has been granted.
The planning application will ask for permission to build a supermarket comprising 30,000 sq ft of sales area and over 300 parking spaces.
The deal follows Terrace Hill's recent announcement of its conditional pre-letting agreement with Sainsbury's in Sunderland and follows on the heels of the company's other recent supermarket development deals in Bishop Auckland, Helston and Manchester.
Philip Leech, chief executive of Terrace Hill, commented: "This is our second announcement regarding a supermarket development in the last month and reflects the strength of our pipeline of food store developments across the UK. These are all likely to add substantially to shareholder value within the company over a number of years."
