Homebase, Market Drayton

Radcliffe’s purchased a two acre plot of land adjoining a new Lidl supermarket, on the site of a former Safeway supermarket.

We knew that Homebase had a requirement for the town, and we approached them with our scheme once the site had been secured. Our architects produced a selection of sketches providing the accommodation required, and we agreed the location, shape, and style of the building. We also agreed a specification and terms for the proposed building of 21,500sq ft with a garden centre, and entered an Agreement to Lease. We submitted a planning application, and negotiated with planners and adjoining owners, and were eventually granted a consent that was suitable to all parties.

During the currency of the planning application, we looked for a potential end purchaser of the completed investment. We drew up a shortlist of potential funds, and ultimately agreed terms with Invista Real Estate. Invista bought the land up-front with the commensurate saving in Stamp Duty, and provided development finance to the project. The scheme was finished on time, and on budget. Homebase were pleased with their new facility, Invista pleased with their new investment, and we were pleased with another successful project.

Radcliffe’s had been introduced to this opportunity by three individuals. An arrangement was agreed that they would share in the profit upon completion. These profit share payments were made to the satisfaction of all, without any written agreement. We value our network of contacts, and remain true to any agreement reached.

For more details contact John Radcliffe or Doug Slater on 01484 420212.

 

  • Homebase store front