Member Article

Kier Property strikes £3.4m deal on Thornton Cleveleys development

Kier Property has acquired six acres of land at Norcross Lane, Thornton Cleveleys, situated 4.5 miles north of Blackpool, for £3.4m.

The land, sold by commercial property management company Telereal Trillium, is set to become a retail park, as part of plans to regenerate the major brownfield site.

The space has already received planning consent to provide for an 18,000 sqft supermarket, together with a variety of other retail units and a drive thru food outlet.

Telereal Trillium is also proposing to develop around 170 homes, a retirement housing scheme and 7.5 acres of land allocated for employment use.

Construction is likely to commence in the Spring, with completion expected later in 2017.

Tom Gilman, managing director (North) at Kier Property, said: “We’re pleased to have completed this sale, which is significant for both parties and will result in a development that will benefit the local area.

“It builds on our strong track record of significant investment in regenerating brownfield sites, particularly in the retail and leisure sector in the north of England.”

Mark Kelly, Disposals and Development Director at Telereal Trillium, added: “The retail park plays a significant role in maximising the regeneration prospects of this major brownfield site.

“We’re delighted that Kier Property has chosen to develop out the retail park of the larger scheme, which will provide a balanced mix of uses and open significant opportunities for employment in the area.”