Wilkinson Williams

Wilkinson Williams were originally instructed by Spen Hill Developments (Tesco) in 2002 to provide development advice in respect of a 10 acre site adjacent to a 100,000 sq ft Tesco Extra foodstore, where a new retail park was proposed.

The planning application was "called in" by the Secretary of State and Wilkinson Williams provided Expert Witness evidence at the Planning Inquiry in respect of retailer demand for the location and competing sites in the locality. Our client successfully secured a bulky goods retail planning consent for 102,500 sq ft.

We subsequently agreed prelettings with Wickes Extra (£19.00 per sq ft for 50,000 sq ft), Currys (£18.00 per sq ft for 15,000 sq ft), PC World (£18.00 per sq ft for 13,500 sq ft) and Dreams (£20.00 per sq ft for 10,000 sq ft). After the scheme had been built, in 2007 Laura Ashley acquired the last 10,000 sq ft unit, nearest to the Tesco Extra foodstore, at £22.00 per sq ft.

The resulting investment is held in a joint venture vehicle between Tesco and Morley.

Contact :Mark Phelps