Image: Schroder

Trio of lettings at Chelmsford retail park

Schroder UK Real Estate Fund has signed 2,000 sq m of lettings at its 5,600 sq m Meadows retail park in Chelmsford, unlocking an investment opportunity that will reposition the asset in line with the changing needs of consumers.

Works will commence in the coming months on the redevelopment with new occupiers targeting an opening in late 2020. The £3 million reconfiguration of the former Argos will create a new PureGym on the first floor, with TGI Fridays and Cosy Club occupying new 500 sq m and 600 sq m units respectively. The leases have been agreed on 15 year terms. There is one unit of approximately 300 sq m available to let within the new development. The new occupiers respond to consumer feedback for increased dining facilities and leisure provision while the confirmation of Cosy Club is a milestone in itself, as the first location for the brand in Essex.

The work at The Meadows forms part of a wider picture of investment in this part of Chelmsford where millions of pounds of private funds have reshaped the area, including at the Bond Street redevelopment where John Lewis and Everyman arrived in late 2016. Works at The Meadows will transform the look and feel of the busy shopping park delivering high quality mixed-use space with a popular tenant line up and bright, modern facades.

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