Retail Property - Mixed-use plan gets approval in Cheltenham

Interbrew UK and Salmon Harvester Properties have obtained detailed consent for their£40 million mixed-use scheme in Cheltenham, Gloucestershire. The 1.6 ha development will provide 45,000 sq ft (4,180 sq m) of retail and 175,000 sq ft (16,250 sq m) of leisure, restaurant, office and residential space.

The developer has agreed pre-lets with Cine UK for the leisure element, and Nando's for the restaurant. Rents are undisclosed, but quoting rents for retail are about£25 per sq ft (£270 per sq m).

Salmon Harvester director Doug Stewart said: 'To have achieved a consent within an eight-week period is a testament to the foresight of Cheltenham Borough Council and the hard work of our team.'

Letting agents for the scheme are Cushman & Wakefield Healey & Baker and Hartnell Taylor Cook. Salmon Harvester is a joint venture between Salmon Developments and NFU Mutual.

C&WH&B associate Rob Bloomer says: 'We're looking for retailers that want large space from 3,500 sq ft to 20,000 sq ft (325 sq m to 1,860 sq m) in a pseudo town centre.'