Member Article

Kier Property signs Subway to £25m gateway development

Leading developer Kier Property has signed up the sandwich chain Subway to its £25m Hemel Hempstead gateway development.

The company has signed a 15-year lease on the 1,000sq ft space at the mixed-use development park near St Albans Road, joining a 108-bed Travelodge hotel and a Mitchell and Butlers Toby Carvery restaurant, which are already trading on the site. Subway is now open and trading. There are also 130 shared car parking spaces on site.

Located one mile from the M1 motorway and 2.5 miles from the town centre with an excess of 30,000 vehicles passing the site every day, the park is a catalyst for bringing business into the town. It is also close to the Maylands business park, which currently employs 16,000 people and has a wide range of businesses.

Kier Property completed the development earlier this year in record time so that businesses were able to open in time for the Olympics.

Ioan Rees, Graduate Surveyor at Kier Property, said: “We are delighted that Subway has signed up to the development. It plays an important part in continuing to help the area grow and, with good transport links and close to Hemel Hempstead town centre, the site is ideally situated.”

Kier Property also has plans to develop offices on the site. The company is looking to add a retail or restaurant outlet to take the remaining 1,000sq ft unit and there are already several interested parties.

Lambert Smith Hampton and Wright & Partners have been appointed as letting agents. All enquiries about the remaining space should be directed to them.

This was posted in Bdaily's Members' News section by Rachael Hunter .