Hill Samuel Asset Management - Retail - Colchester, 17-33 Long Wyre Street

Date: 24 Jun 1998

Blair Kirkman, acting on behalf of Colchester and East Essex Co-operative Society Ltd, has exchanged contracts with Argos Distributors Ltd to take a pre-let on the redevelopment of Unit 2, 17-33 Long Wyre Street, Colchester.

The redevelopment, project managed by Churchmanor Estates, was formerly occupied by the Co-Operative Society and is adjacent to the retained store which has recently been refurbished.

The new Argos superstore will be arranged over ground and first floor totalling approximately 32,000 sq ft. Argos are relocating from the High Street. A rent of £335,000 pax has been agreed on a new 20 year lease. Work has commenced on site with completion scheduled for January 1999.

Blair Kirkman are now marketing the remaining unit adjacent to Argos, which provides approximately 6,500 sq ft of sales at the ground floor, and 18,170 sq ft of ancillary space.

Jackson Criss acted for Argos.

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