NEWS PAGE

Oswestry, Shropshire

Contracts were recently exchanged with WM Morrison Supermarkets plc who have agreed to operate a 50,000 sq ft food store and petrol filling station. The balance of this retail leisure park will initially be occupied by Cine UK operating a five screen cinema, McDonalds and Frankie & Benny’s, and a phase two for a non-food scheme is also proposed.

Initially the project involves the relocation and redevelopment of the Town’s livestock market, and these works are expected to commence summer 2013.

St Austell, Cornwall

Mercian has entered into a joint venture with London Metric Property Plc to promote a comprehensive development for up to 98 acres. Works have now been completed on a masterplan to promote a two phase mixed use development. In respect of Phase I a detailed planning application has been submitted for a 108,000 sq ft Sainsbury’s store with petrol filling station, a 165,000 sq ft Open A1 Shopping Park, significant infrastructure (including diversion of the A390 and new northern link road), extension to the local Church with car parking, and outline planning for a new nine hole golf academy, extended playing fields and parking for the local School.

A Phase II proposal is being considered once feedback is received for the Council’s emerging Core Strategy Plan, which could cater for 250 new residential units.

Shrewsbury, Shropshire

Mercian has exchanged an agreement with the Diageo Pension Fund to promote a 14 acre site in the south west area of Shrewsbury on land adjacent to the Meole Brace Retail Park.

It is proposed that an outline planning application will be submitted later this year to promote a mixed use development of approximately 120,000 sq ft non-food retail, pub / restaurant / lodge, restaurants and petrol filling station.

Significant interest has been registered from occupiers who are keen to gain representation in Shrewsbury.

Looe, Cornwall

Mercian and Tesco Stores Limited have submitted a detailed planning application for a new 35,000 sq ft food store with petrol filling station and 36 residential units. Mercian is proposing to enter into an arrangement with two local housing associations who are proposing to provide a scheme of 2/3 and 4 bed homes to provide affordable housing.

Madeley, Shropshire

Mercian have signed an agreement with AXA to promote a mixed use development. We are currently preparing feasibility options with a view to submitting a planning application towards the end of 2013.

Tavistock, Devon

Mercian is currently working up a masterplan for a mixed use development on a 34 acre site, which will feature retail (food and non-food) employment, health and residential. This would represent a strategic development for the town, and through ‘enabling development’ we are able to deliver new employment land for which the site is park allocated.

Conisbrough, Yorkshire

Mercian are working on an opportunity with the Vendors of the former Earth Centre and their advisors Ernst & Young for a retail led mixed use development.

Hamstead, Birmingham

Mercian is working with Sainsbury’s to promote a mixed use development, comprising retail and employment. A detailed planning application has been submitted to promote a food store of 50,000 sq ft and new employment spaces of 18,000 sq ft.

Chipping Norton, Oxfordshire

Mercian have signed an agreement with a local land owner and are looking to submit a planning application for a discount food store in Chipping Norton towards the end of 2013.

Swarcliffe, Leeds

Mercian recently completed the development of a retail terrace in the NE suburbs of Leeds, where significant residential development has been carried out. This neighbourhood centre has been part occupied by a Co-op convenience store and Sue Ryder. Two further units are available to let now that the build works have been completed.

Aberystwyth, Ceredigion

Mercian has acquired an investment property on Great Darkgate Street with Corals as the principal tenant occupier. The property has recently undergone a complete refurbishment both externally, (which was partially funded by a Regeneration Grant assisted by Ceredigion County Council), and internally with the assistance of the tenants. New lettings have been achieved to now include Spar Convenience Store and the Mid Wales Survivors Trust have occupied the first floor office accommodation.

The Future

Mercian has several exciting new projects in the pipeline involving a number of food development opportunities throughout England and Wales. The Company is particularly active in the South West and Midlands, and is exploring new sites in the North.

Mercian is looking to invest in its property portfolio as the current economic downturn has brought forward new opportunities.

Recent acquisitions have included: -

- Retail investment Great Darkgate Street, Aberystwyth
- Retail and Office investment Llangefni, Anglesey
- Retail investment George Street, Pontypool
- Retail investment Swarcliffe, Leeds