FHP SELL SUPERMARKET SITE TO SAINSBURYS IN LEEK

Retail News

Fisher Hargreaves Proctor acting on behalf of Churnet Works Estates Limited have sold a site of 23.25 acres on an unconditional basis to Sainsburys.

The site had in the past been occupied by Courtaulds and subsequently had been divided to provide a variety of industrial units of 240,000 sq ft, delivering an income of approximately £257,142 per annum.

It is understood that Sainsburys, who bought the site unconditionally, will be looking to develop a mixed use scheme including a supermarket, residential accommodation and possibly additional retail space.

David Hargreaves confirmed that there had been strong interest in this site from both developers seeking to enter into a joint venture with Churnet Works Estates Limited and various supermarket groups.

A price close to the guide of £7 million was secured.

Fisher Hargreaves Proctor acted on behalf of Churnet Works Estates Limited, with John Liggins acting for Sainsburys.