February 22, 2010
Dreams plc is expanding its bedding superstore at Turnstone Estates’ £20m development Army & Navy on Parkway, Chelmsford.
Dreams will add an additional 4,058 sq ft at a rent of £22.50 per sq ft to its existing 7,509 sq ft store. The deal is coterminous with its 15-year lease which expires in 2024.
Chris Goldsmith, managing director of Turnstone Estates, comments: “It would seem that Dreams is following the earlier lead of The Restaurant Group in taking more space at this prominent scheme following better than expected trading results. This is a terrific endorsement for our Army & Navy development and leaves just 5,265sq ft to let, the majority of which we have just placed under offer.”
Other occupiers at the Army and Navy development on Parkway include an 81-bedroom Travelodge Hotel and TRG restaurants, Frankie & Benny’s and Chiquito.
Januarys and Waring & Partners represented Turnstone Estates. Dreams plc was unrepresented.
