Lichfield Road, Stafford
Planning was obtained for the first phase of approximately 100,000 sq.ft of non-food retail together with consent for approximately 6 acres of private and affordable residential accommodation. Liberty Mercian pre-let approximately 60,000 sq.ft to B&Q and additional units to Argos, Maplin, Benson for Beds and SCS. The 6 acres of residential land were sold to Persimmon Homes.
Cyril Leonard advised development funding with Albemarle LLP who provided approximately £25m of development finance for the project.
Cyril Leonard also advised on the funding of the second phase which was pre-let to Travelodge, Pizza Hut, KFC and Frankie and Benny’s.