Sector: Private Sector, Retail
Project profile: Design, Build and Finance and Letting risk a 1,600m² mixed use retail parade with a mix of A1 retail and A5 food units.
Customer: Hull City Council
Value: £4.7 million
Stage: Completed June 2015
Location: Orchard Park Parade, Hull
Funder: Chandler Investments
Tenant: Anchor – Heron Foods, Mixed A1 Retail & A5 Foods – with McColl, Copelands, Dove House and Barnado’s
Legal Advisor: JMW LLP
Architect: Bauman Lyons
Contractor: Hall Construction
Employers Agent: Spring & Company Limited
Structural: Tier Consulting
Planning Consultant: Eye Develop
Letting Agent: Fawley Watson Booth
In 2010 Hull City Council embarked upon a public procurement process to seek expressions of interest and ultimately to appoint a preferred development partner to develop the Orchard Park site, a derelict retail centre in one of the most deprived wards in the UK. This development linked the NHS Integrated Primary Care Resource Centre with the community and completed the extensive regeneration plans for this specific locality.
Phase One (1,600m²) was handed over in April 2015 included ten units ranging in size from 84m² to 1,000m² providing a selection of A1 retail and A5 hot food units, customer frontage parking and rear service areas for deliveries. Pre-lets were secured with McColl, Copelands, Dove House and Barnardo’s.
Phase Two completed in June 2015, delivering the anchor unit for Heron Foods.
The scheme was funded utilising the Council’s covenant which not only raised sufficient finance to fund the scheme, but also created a significant profit rent and income for the Council.