Moorfield plans Darlington extension
Published: 13 October, 2010
Moorfield Group has bought the Post Office building on Crown Street, Darlington to allow an extension to its Cornmill shiopping centre.
The building consists of a ground floor retail unit with vacant offices at 1st and 2nd floors above. The Post Office has taken a lease back on the ground floor unit for a term of 15 years at a market rent. The deal facilitates the next phase in the expansion of the 221,000-sq ft Cornmill Shopping Centre, with the intention of extending the existing shopping centre to the 1st and 2nd floors above the Post Office.
Mark Holmes of Moorfield said: “This latest announcement marks our commitment to Cornmill Shopping Centre and Darlington. The shopping centre is more than 98 per cent let and with the possibility of extending the facilities further, we will be able to accommodate new and exciting retailers who will join a host of high street names already established in the centre.”
DTZ acted for Moorfield in the deal, while BNP Paribas represented the Post Office.
This deal comes off the back of the recent letting of the 22,000-sq ft former Woolworths unit to Next. Furthermore Virgin Media has taken a three-year lease on a unit while Internacionale, Box Office, Azuri and Three have all signed deals to remain in the centre.
