Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has completed a new 20 year lease with ALDI Stores Limited, the discount supermarket chain, on a 20,000 sq.ft unit at Colne View Retail Park in Colchester.
Building and fit out works are due to commence on ALDI’s new store imminently, with a targeted opening date in the first half of 2016. ALDI will take occupation alongside current tenants DFS, Halfords and Pets at Home and returns this 61,266 sq.ft Retail Park to full occupation.
Colne View is a popular and well established Retail Park located North of Colchester Town Centre and fronts the A133 Cowdray Avenue. The Retail Park benefits from unrestricted Open A1 (food) consent across all units.
George Eddy, Asset Manager at Orchard Street, commented:
“We consider that this letting to ALDI reflects the high quality nature of retail accommodation at Colne View. The diverse range of tenants are highly complementary, with each retailer benefitting from footfall created by neighbouring stores. We expect ALDI’s arrival to further enhance the retail offer at this park.”
Orchard Street was advised by Edgerley Simpson Howe on this letting.