LXB retail acquires development sites

LXB Retail has acquired the leasehold for two adjoining sites

in northern UK town centre, Stafford, for redevelopment as retail units.

The sites are 4.75 and 1.85 acres respectively on the edge of Stafford Town Centre.

The go ahead has been given by Stafford Borough Council to develop plans for the edge of the town centre retail scheme,which includes 220,000 sq ft retail accomodation.The company has announced that outline terms have been conditionally agreed with a major retailer to lease a 65,000 sq ft anchor store. LXB said it intends to submit a planning application for the development later this year.

Tim Walton, CEO of LXB, commented: “This is another exciting retail development opportunity for LXB Retail which was recognised as one of our ‘pipeline’ opportunities with a well located site, identifiable tenant demand and pro-active local authorities and typifies the areas in which we seek to do business. We look forward to helping to enhance the retail facilities of Stafford town centre with a high quality development.”