Chartwell Land - Retail - Chelmsford, High Street

Date: 11 Feb 2000

Chartwell Land has exchanged conditional contracts to acquire the Bolingbroke and Wenley department store at 70-74 High Street, Chelmsford for approx £12 million.

The existing store will be demolished and redeveloped. The scheme will provide two large retail outlets fronting both High Street and New London Road and five shop units fronting New London Road. The units will be available for autumn 2001 trading.

H&M has agreed terms on a 27,000 sq ft store and terms have been agreed to let the other High Street store of 16,000 sq ft to a major fashion multiple.

Andrew Berger-North, Chartwell Land's in-town Development Manager comments:

"We are delighted to have won this prestigious town centre site in a very competitive market. Our decision to secure this opportunity and the quality lettings we have agreed very much underlines our confidence in Chelmsford as a retail destination.

Chelmsford is in the top 75 centres in the UK and this investment further demonstrates our commitment to High Street development in major towns and cities.

In providing units for a retailer such as H&M, we will improve the retail offer for the town's residents and increase Chelmsford's attraction as a vibrant commercial centre."

Hill Welsh acted for Chartwell Land on the acquisition and will be marketing the units on New London Road. Hartnell Taylor Cook acted for H&M.

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