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Telereal Trillium sells Norcross retail site to Kier Property for £3.4m

Telereal Trillium sells Norcross retail site to Kier Property for £3.4m

22 November 2016

Telereal Trillium has completed the sale of six acres of land at Norcross Lane, Thornton Cleveleys to Kier Property for £3.4m.

The land, located 4.5 miles north of Blackpool, was sold with the benefit of planning consent for the construction of a retail park, providing a total of 45,000sqft of space. The plans provide for an 18,000 sqft supermarket together with a variety of other retail units and a drive thru food outlet, creating up to 200 new jobs in the area. 

The retail park forms part of a larger mixed-use regeneration plan for the site being undertaken by Telereal Trillium, including the development of c.170 homes, a retirement housing scheme, and 7.5 acres of land allocated for employment use. Telereal Trillium is currently marketing the residential land, which will be sold in early 2017. 

Mark Kelly, Disposals and Development Director at Telereal Trillium said: “The retail park plays a significant role in maximising the regeneration prospects of this major brownfield site. We’re delighted that Kier Property has chosen to develop out the retail park of the larger scheme, which will provide a balanced mix of uses and open significant opportunities for employment in the area.”

Tom Gilman managing director (North) at Kier Property said: “We’re pleased to have completed this sale, which is significant for both parties and will result in a development that will benefit the local area. It builds on our strong track record of significant investment in regenerating brownfield sites, particularly in the retail and leisure sector in the north of England.”

Construction is likely to commence in the Spring, with completion expected later in 2017.

Telereal Trillium were advised by Cheetham & Mortimer and GL Hearn, and Kier Property by GVA.