Turnstone Estates has signed a development agreement with a private landowner, the Southill Estate, to deliver a 175,000 sq ft mixed commercial scheme called Interchange South on an 11.35 acre-site in Bedford.
The site, which is situated on Ampthill Road between the A421 and Interchange Retail Park on the southern edge of the town, is allocated in the local plan for employment uses and could accommodate a scheme consisting of retail, drive-thru restaurant units, trade counter space, industrial, warehousing and offices.
One of the plots has been pre-sold to Lidl GB to deliver a new food store which will complement the established neighboring retail parks and offer improved shopping choice for local residents. The new supermarket, which forms part of the company’s ongoing expansion ambitions within Great Britain, will deliver Lidl’s high quality and affordable produce.
Turnstone Estates is currently seeking pre-let interest on the rest of the scheme, which can accommodate buildings ranging from 5,000 sq ft to 40,000 sq ft. The developer intends to submit a planning application for Interchange South shortly.
Tim Deacon of Turnstone Estates said:” Interchange South offers a superb opportunity for occupiers wishing to take advantage of a great location, being close to the prime out of town retail parks and also highly accessible for the A421. We expect to attract occupiers for a wide range of uses.”
Lidl GB’s Regional Head of Property, Andrew Hodgkinson, commented: “We are delighted to be part of the development at Interchange South, representing an extensive investment into the local area as well as the creation of new jobs. We’ve seen incredible demand for Lidl stores across the country and look forward to offering our quality products and incredible value to shoppers in and around South Bedford”.
Matthews & Sadler and HCR Law represented the private landowner on the development agreement and Howes Percival acted for Turnstone. Savills is the letting agent on the scheme.