09. März 2010 
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Launch of Scarborough Development Group
A new property development and investment group has been launched following the £37 million acquisition of a portfolio of retail development sites, principally in the North-West.
The sites have been acquired from the administrator of Modus by Scarborough Development Group, the McCabe family’s latest property vehicle, which is presently looking to take advantage of retail opportunities. The independent property vehicle will initially focus on the food store sector which has proved to be a defensive market area throughout the recession.
The acquisition has been made with funding partners Investec Private Bank and aims to create more than 650,000 sq ft of food store, mixed retail, parking and office space on eight sites, covering more than -60 acres- in North & South Wales, the North-West and Lincolnshire.
The investment value of the completed projects is anticipated to be in the order of £200 million.
The developments are located in Rhyl, Stockport, Preston, Congleton, Boston, Glossop, Newport and Wigan.
Rhyl - ‘Ocean Plaza’
A 16 acre site where SDG plan to develop a mixed use scheme including a 95,000 sq ft food store, an 80 bed hotel, 20,000 sq ft of offices, a stand alone leisure unit and 234 sea front apartments in a mixed use scheme including 20,000 sq ft of commercial.
Congleton – Mill Street / Princess Street
A three acre site comprising a number of existing retail units fronting Mill Street at an upper level, together with other properties accessed from Princess Street. A planning application has been submitted to develop the site to provide a 58,200 sq ft food store alongside six further retail units totalling 5,000 sq ft.
Wigan – Millgate
A 0.7 acre site which sits immediately next to a new 500 space multi storey car park and the recently developed Grand Arcade shopping centre. There are various proposals for the site including a residential tower and a mixed office/ budget hotel scheme.
At the remaining sites, the Company’s development plans are still at early stages but preferences centre around food store developments where the opportunity exists.
Stockport – Brighton Road
An 11 acre site which currently accommodates approximately 100,000 sq ft
Preston – Blackpool Road
Boston- Rosegarth Street
A retail unit on 2 acres in the town centre.
Glossop – Wren Nest Road
Newport – The Cambrian Centre
An existing shopping centre of approximately 55,000 sq ft in the city centre
Mark Jackson has been appointed Managing Director, and Simon McCabe as a Board Director.
The sites have been acquired from the administrator of Modus by Scarborough Development Group, the McCabe family’s latest property vehicle, which is presently looking to take advantage of retail opportunities. The independent property vehicle will initially focus on the food store sector which has proved to be a defensive market area throughout the recession.
The acquisition has been made with funding partners Investec Private Bank and aims to create more than 650,000 sq ft of food store, mixed retail, parking and office space on eight sites, covering more than -60 acres- in North & South Wales, the North-West and Lincolnshire.
The investment value of the completed projects is anticipated to be in the order of £200 million.
The developments are located in Rhyl, Stockport, Preston, Congleton, Boston, Glossop, Newport and Wigan.
Rhyl - ‘Ocean Plaza’
A 16 acre site where SDG plan to develop a mixed use scheme including a 95,000 sq ft food store, an 80 bed hotel, 20,000 sq ft of offices, a stand alone leisure unit and 234 sea front apartments in a mixed use scheme including 20,000 sq ft of commercial.
Congleton – Mill Street / Princess Street
A three acre site comprising a number of existing retail units fronting Mill Street at an upper level, together with other properties accessed from Princess Street. A planning application has been submitted to develop the site to provide a 58,200 sq ft food store alongside six further retail units totalling 5,000 sq ft.
Wigan – Millgate
A 0.7 acre site which sits immediately next to a new 500 space multi storey car park and the recently developed Grand Arcade shopping centre. There are various proposals for the site including a residential tower and a mixed office/ budget hotel scheme.
At the remaining sites, the Company’s development plans are still at early stages but preferences centre around food store developments where the opportunity exists.
Stockport – Brighton Road
An 11 acre site which currently accommodates approximately 100,000 sq ft
Preston – Blackpool Road
Boston- Rosegarth Street
A retail unit on 2 acres in the town centre.
Glossop – Wren Nest Road
Newport – The Cambrian Centre
An existing shopping centre of approximately 55,000 sq ft in the city centre
Mark Jackson has been appointed Managing Director, and Simon McCabe as a Board Director.
