L3P has completed three stores for Wickes to date:
BURGESS HILL West Sussex – Mid Sussex Retail Park
This 55,000 sq ft (plus garden centre) retail park is occupied by B&Q and Pets at Home and located on the A273 Jane Murray Way opposite Tesco, ot the south of Burgess Hill. Highways improvements were an important part of the development, including the provision of a new access point from the A273. Acquisition of this 3.7 acre site involved the merger of the freehold and long leasehold interests. Consent was granted at application.
The development was pre-funded by Aberdeen Asset Management.
The former Sultans Turkish Delight factory site was acquired by L3P and following the grant of planning permission by Breckland District Council, work commenced in July 2010 on a 26,500 sq ft store for Wickes, together with a 10,000 sq ft external sales area.
The project, on London Road, close to the A11 bypass and the Thetford Forest Retail Park, was completed in 2011.
The completed investment was acquired by the Aegon Property Fund.
In 2008, L3P acquired the freehold interest of the former M5 Motorway Services lorry park on Moor Lane from Moto Hospitality. Following the granting of permission by Exeter City Council, the site was redeveloped for a 31,500 sq ft store for Wickes Building Supplies, who relocated from older premises in the city. The site is highly visible from the M5 motorway and close to several other major retailers.
The completed project was bought by La Salle/Halifax Pension Fund.
L3P purchased the freehold interest of this site, which is located opposite the North Quay Retail Park (B&Q etc) on Peto Way, from Associated British Ports for the development of a 29,100 sq ft stand-alone retail unit, with external project centre, for Wickes Building Supplies Ltd. Permission was granted at application by Waveney District Council.
The investment was acquired by Smiths Industries Pension Fund.
OSWESTRY Shropshire – Penda Retail Park
Originally developed for Focus DIY, Halfords and Carpetright, the largest unit was later assigned to Homebase. Totalling 42,000 sq ft, the 3 acre site was formerly occupied by Furrows Ford main dealer and located on Salop Road, close to the junction with the A5 bypass and within walking distance of the town centre. The scheme is named after King Penda of Mercia!
The development was pre-funded by Merchant Place Securities.