Business2Business December 2023
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Town centre transformation ‘a welcome boost’ Two landmark store sites are up for sale, creating opportunity in Bedford’s plans to regenerate its town centre
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uyers are being sought for the vacant former Debenhams department store in Bedford town centre. Offers around £3 million are being invited after LPA receivers Kroll Advisory on the market. The 75,377 sq ft property has mixed use development potential and the site is included in the Local Plan being put together by Bedford Borough Council. The plan also includes Bedford Corn Exchange, the Harpur Suite and Bedford Central Library. The building, which has six floors and runs from the centre of Bedford High Street to Silver Street, is being marketed by commercial property consultancy Kirkby Diamond. Nathan George, associate and head of agency at its Bedford office, said: “Although the demise of Debenhams was a sad moment for Bedford town centre it means that a long-awaited opportunity has arisen to acquire a historical piece of the
town centre. We are of the opinion that the property would best suit redevelopment of the upper floors to residential and splitting of the ground floor into multiple retail or leisure units, subject to planning.” The property is currently fitted out as a department store with open plan retailing around several service cores and access points. There is a large basement and additional storage to the fifth floor and loading access via St Paul’s Square to the rear. “Bedford Borough Council has continued its proactive approach to economic development across the borough and will be supportive in promoting the site as a viable development opportunity,” said Mr George. “The site has been included in the upcoming Local Plan which considers how a scheme could potentially create smaller commercial units for retail or food/ beverage occupiers, other leisure uses and residential opportunities on the upper floors.”
The Mall gets the point of new owner’s rebrand
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he new owner of The Mall shopping centre in Luton have announced plans to rebrand the premises at Luton Point. Sovereign Centros, who asset manages the 900,000 sq ft scheme, has submitted a planning application to Luton Council to update all the scheme’s external signage to the new name, with a strong focus at its main entrances, particularly the Atrium at St George’s Square. Investment will also be made to update internal signage.
The shopping centre, now owned by Frasers Group, has been in Luton since 1972 and has tenants including Primark, TK Maxx, H&M, River Island and Boots. It expects to announce new openings including a Sports Direct store. Frasers Group is owned by businessman Mike Ashley. “Luton Point reflects a new ownership with a new approach, and a move to an identity more in keeping with the centre’s place within the town,” said Sovereign Centros commercial assets manager Mark Stapleton.
Subject to planning approval, the new brand is expected to be in place early next year. The Mall’s centre director Roy Greening, said: “With a fresh new identity and the prospect of fantastic new brands arriving, we are excited for the next chapter. “Our loyal customers are always at the centre of our plans. We will continue to work hard to support local community and stakeholders. “We are proud of the partnerships we have locally and our place at the heart of Luton, and that is one thing that will never change.”
Building’s potential significant in council’s vision for St Paul’s Square redevelopment
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he former Wilko store in Bedford town centre is up for sale. Agents Kirkby Diamond are seeking offers in the region of £1.75 million. For the freehold of the 36,900 sq ft property in High Street. The three-storey property offers excellent potential for existing use, leisure and/or residential redevelopment, said Nathan George, associate and head of agency at Kitrkby Diamond’s Bedford office. “While the closure of the Wilko store was undoubtedly a blow, the potential transformation of the building in a fantastic high
street location could bring a welcome boost to the town centre,” Mr George (inset) added. “The property offers a wonderful opportunity to an investor or developer to remodel the building and to attract new retail or leisure occupiers. We expect there to be a great deal of interest in acquiring the freehold of this important building.” The property, whose frontages are grade II listed, overlooks St Paul’s Square. Bedford Borough Council
has received £5 million funding improvements to St Paul’s Square opposite the property. Regeneration plans include a comprehensive development of the square to support a variety of outdoor events, activities and performances. The objective of the council’s plans is to improve visitor experience, increased vibrancy and footfall and diversify the town centre’s offer to promote Bedford as a visitor destination.
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Business2Business | December 2023
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