Peveril Securities, in a joint venture with Rothstone Estates and represented by Savills, has secured M&S Foodhall as the anchor for Rotary Way, a new out-of-town retail development in Ripon, North Yorkshire.
M&S Foodhall has agreed a new 20-year lease for a 11,000 sq ft (1,022 sq m) unit at an annual rent of £220k.
The Rotary Way development is being managed by Rothstone, with completion due in 2018. It is located on the A61 Ripon Bypass and will total 25,000 sq ft (2,685 sq m) of new ground floor retail space, plus mezzanines, and parking for 150 vehicles.
Charlie Greenhalgh, out-of-town retail director at Savills, commented, “We are pleased to have secured these lettings to M&S Foodhall and Pets at Home, providing strong anchors to the retail line up at Rotary Way, and, with planning permission now secured, we look forward to announcing further deals in due course.”