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Gloucestershire Business News

New Tesco store planned for Cheltenham

Property investment and asset management business Addington Capital has secured a new letting at 111 High Street, Cheltenham, adjacent to John Lewis.

Grocery giant Tesco is taking a 4,100 sq. ft unit on a new 20-year lease. The unit forms half of the ground floor space of a repurposed retail unit adjacent to the recently opened John Lewis Unit.

The first and second floors of the building have been redeveloped into self-contained offices, with the first floor (7,400 sq. ft) being let on completion of the redevelopment works to Just Go Travel as announced earlier this year.

The second floor (3,700 sq. ft) office suite and one (4,700 sq. ft) high street retail unit remain available to let.

Matthew Allen of Addington Capital said: "We have re-purposed this c.20,000sqft three storey retail building to provide contemporary office and retail space and we are delighted to secure this letting to Tesco. The project is a template for future repurposing of large stores on UK high streets.

"Cheltenham is a historic spa town which can re-invent itself and thrive beyond the economic and retail trauma of 2020".

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