Foodstores snap up former B&Q
Published: 09 January, 2017
LaSalle lets Bletchley retail space to Aldi and Iceland
LaSalle Investment Management has let 36,100 sq ft of retail space in Watling Road, Bletchley, Milton Keynes, to two supermarket chains, Aldi and Iceland.
Aldi has agreed a 20-year lease on 21,100 sq ft of ground floor space at the Bletchley building. Iceland has signed a 10-year lease for the remainder of the ground floor comprising 15,000 sq ft, for one of its new Food Warehouse concept stores.
The deal follows the surrender of the unit by B&Q, after the company decided to consolidate its business into its central Milton Keynes warehouse. LaSalle has taken this opportunity to carry out refurbishment works to the building, including the subdivision of the unit and construction of two new entrance facades. Improvements have also been made to the common areas by the implementation of new pavements, extensive repairs to the car park and upgrading the lighting and landscaping.
LIM associate director Ross Burns said: “This is an excellent leasing result, which clearly reflects the popularity of the property. The two tenants will benefit from a refreshed and enhanced site, in a growth area with excellent transport links to some of the UK’s largest cities. We are committed to providing a relevant retail offer for the local catchment and anticipate the deal will be a strong footfall driver.”