January 10, 2017
Salmon Harvester Opportunity Fund (SHOF) has agreed a deal with homeware and household goods retailer Wilko at Worcester’s Cathedral Square.
The deal is the largest letting in the City Centre in seven years since and is almost the last piece in the jigsaw for SHOF’s £20 million transformation of Cathedral Square, which is now 90% pre-let.
Wilko Retail Ltd has signed a 10-year lease, at a rent of £380,000 pa, on a 20,000 sq ft unit. The new store, which will open during this Summer, is being created for the retailer from the former Dorothy Perkins store and the former Lychgate Mall.
Matthew Meaden of Salmon Harvester Opportunity Fund commented: “This letting shows renewed confidence by retailers in the city centre, following the Council’s decision to refuse planning consent for the proposed out of town development Worcester Woods. Work is progressing exceptionally well with the refurbishment and we are looking forward to launching the revitalized scheme next summer.”
Cathedral Square has already signed a number of new retail and leisure tenants including Hotel Chocolat, Ask, All Bar One, Byron Hamburgers, Cosy Club, Miller and Carter and Fitness4less.
The new shopping and leisure destination is set to create hundreds of new jobs and has already seen the integration of a new route system on Deansway, which runs past the Cathedral.
BNP Paribas Real Estate acted for Wilko. Hartnell Taylor Cook, Johnson Fellows and DMR acted for SHOF. Local contractor Speller Metcalfe is undertaking the refurbishment works.