New Tesco Extra, Newmarket

Contractors are now on site building this replacement store which is an upsize from the adjoining Tesco superstore. The finished unit  will extend to circa 104,500 sqft and is due to open summer 2016. The development has been funded by Standard Life.  GB advised the landowners (WIP)and their development partner Hamilton Land throughout. The deal involved TSL entering into a conditional agreement for lease with WIP and Hamilton Land acquiring the freehold of the existing store to enable the two landholdings to be combined. Once TSL open the new unit the existing Tesco will be demolished and laid out as additional car parking. Additionally, our clients secured a further 3 acre prime development site fronting Fordham Road as part of the negotiations.