Chase Midland Estates Ltd announced today that construction work has started on a major new multi-million pound superstore for Morrisons on the site of the former Severn Trent headquarters in Sheldon, Birmingham.
Chase Midland Estates has been working on the scheme for several years, carefully piecing together the various land ownerships required and securing planning consent for the new Morrisons towards the end of 2011. The company has secured funding for this project from real estate fund managers PRUPIM.
The store, which is in excess of 100,000 sq ft, is in the centre of Sheldon and will enhance and support the existing centre by creating a level pedestrian route from the shared shoppers car park, with over 450 spaces, to the existing shops.
Stratford-upon-Avon based Chase Midland Estates has a dedicated team of professionals continually seeking to create innovative and high quality property developments.
Tim Haslam, a director of Chase Midland Estates, said: “We are delighted to be working both with Morrisons and PRUPIM to deliver this new store. Birmingham City Council has been very positive about the regeneration benefits that this scheme will bring.
“The store will be completed later this year although we understand that it is likely to open in early 2013. The striking design, by architects Davis Weatherill, should enhance the street scene considerably. The development market has been subdued for several years so we are delighted that we have been able to bring this derelict site back into economic use.”
He added: “Chase is active in the retail sector and is working with landowners to bring forward several other foodstore sites and retail opportunities. The outlook is as bright as at any time over the last three years, and the company is now looking for further retail led development opportunities in order to continue its growth.”