Turnstone Investments has sold its Army & Navy mixed use development at Parkway in Chelmsford to an institutional investor for £12 million.
The development, which was completed in 2009 and includes an 81 bedroom Travelodge hotel, 25,682 sq ftof retail and leisure space, 12 residential apartments and 80 car parking spaces.
Chris Goldsmith, of Turnstone Estates comments, “We have secured some fantastic tenants at the Army & Navy scheme and are proud of what we have achieved at this development.”
Army & Navy is a prominent roadside retail and leisure development at the edge of Chelmsford. It is situated on Parkway, half a mile to the south-west of the city and is adjacent to a B&M Home store and opposite a planned Aldi store. Tenants include Travelodge, Chiquito, Frankie & Benny’s, Evans Cycles, Nishets Plc, Wed2B Ltd and Chosen Bun.
Griffiths Eccles advised Turnstone Investments, Bilfinger GVA advised the purchaser.
