News

Date

13/01/2000

"Ugly Duckling" Is Returned To Full Use

The former Four Swans Hotel in Sudbury, Suffolk, which suffered from severe fire damage a few years ago has been redeveloped into two prime retail units by Shepherd Developments.

Shepherd's Leeds Office (Tel: 0113 242 2751) acquired the premises around a year ago and has completely redeveloped the site to accommodate fashion retailers, New Look and Mackays, in units of 5,260 sq ft (490 m2) and 5,800 sq ft (540 m2). The tenants are paying a total rent roll of £142,500 per annum and both tenants are now in occupation.

Both tenants have signed 20-year leases with 5-yearly rent reviews and it is anticipated that Shepherd Developments will dispose of the resulting investment in due course. It is expected that demand for the investment will be strong.

Ratcliffes (Tel: 020 7408 0499) and Whybrow Riches & Dodds (Tel: 01206 577677) acted as Letting Agents. Ratcliffes have been retained to dispose of the investment.

Nick Child, a Director of Shepherd Developments, commenting on this project, said: "Over the years we have carried out many developments in market towns and are very pleased that they remain a very successful part of our development programme. We are always very keen to look at similar situations."