Trade Centre Developments - Retail - Ipswich, Commercial Road

Date: 09 Feb 2000

Further to the success of its existing developments, Trade Centre Developments (TCD) has exchanged contracts to purchase another site. Its latest scheme, on Commercial Road, Ipswich, is to be acquired from Sears Property Developments Ltd for £2.35m.

TCD will refurbish the 4,041 sq m (43,500 sq ft) former MFI unit, which is part occupied by Carpetright, to provide five units ranging in size from 279 sq m (3,000 sq ft) to 948 sq m (10,200 sq ft) plus the Carpetright store. Two of the five new units have already been pre-let to Scuffs (which provides cosmetic repairs for cars) and Topps Tiles, and agreement has been reached with Lex Autocentres on a third unit.

Ipswich Trade Centre will be located in a high profile position on Commercial Road, at the junction with Princes Street, between the town centre (which is less than a kilometre away) and the railway station (some 300m away). The Centre will include parking for 121 cars.

As with TCDs Trade Centres, the Ipswich scheme meets its most important criteria of having a prime location. Occupiers at other TCD sites have commented that they benefit from passing trade and from the customers of other users on the park that would not otherwise have found them. Until now, operators of trade counters tended to be situated within industrial estates away from prominent roadside sites.

Building work on the Ipswich Trade Centre is scheduled to start in January 2000, with completion due in the Spring.

Commenting on the acquisition, John Moore, Joint Managing Director at TCD said: "Almost two-thirds of the space is spoken for before completing the purchase. This confirms our view that the prominent location of our Ipswich Trade Centre is ideal for trade counter operators, and we are confident that demand for the last two units will be strong."

Rapleys represented Sears Property Developments Ltd.

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