Construction of a new Aldi supermarket at Peterborough One Retail Park is has commenced. Targetfollow Group Limited, the landowners, have recently completed enabling works that have allowed construction on the first phase of development to begin.
Phase two of the scheme involves opening the new 18’500 sq ft store in 2021.
With 94% of the development currently let, the success of the scheme has led to potential plans for further expansion. A proposed third phase could see the construction of up to 30’000 sq ft of retail, leisure, pub and D2 space amongst other uses.
Peterborough One already accommodates businesses including Van Hage Garden Centre, Steadman & Co Hairdressing, and The Works along with high footfall driving leisure offers such as Inflata Nation and Hebden Dance Co. The latter, along with the beauty school offer ‘Kiss and Make Up’ took on their new premises during the pandemic.
Edward Gee, associate director in the business space team at Savills Peterborough, comments: “The retail park is one of the city’s key out-of-town locations, benefitting from a growing population in Eye, excellent access to both the A47 and A1 along with direct links into Peterborough city centre. This is the ideal location for a new Aldi, attracting significant footfall and helping to cement Peterborough One’s already excellent reputation as a key shopping destination.’’
Paul Dunn, from Targetfollow Group, adds: “It’s been a massive boost getting new retailers to the park during national lockdowns and the Aldi scheme even looks set to double the site’s footfall. The global pandemic has meant 2020 has been a challenging year for all businesses. However, we are all now looking forward with optimism and believe the businesses at PE1 offer a great experience for shoppers in an environment that will only get stronger and stronger.”
The scheme is currently being joint-marketed by Savills and SPACE – Retail Property Consultants.
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