REI’s £1.4 million land sale creates jobs
Scores of jobs are set to be created at a new McDonalds Drive Thru in Crewe, following the sale of a parcel of land by Real Estate Investors plc (REI).
McDonalds has paid REI £1.4 million net for the site at the Market Shopping Centre owned by REI to develop as a Drive Thru venue, which is understood to be opening later this year.
The restaurant will feature indoor and outdoor seating, plus on-site car parking spaces for customers and staff, including disabled spaces, electric vehicle charging points and cycle parking.
The new venue will add to McDonalds’ presence in the area, as the restaurant chain already has two other branches in out-of-town locations.
Jack Sears, asset manager at REI plc, said: “We have completed the sale of land to McDonalds for £1.4 million for them to develop as a Drive Thru.
“This development will bring employment to the area and attract more shoppers and diners to the Market Shopping Centre, complementing the existing consumer offers at the centre.
REI bought the entire Market Shopping Centre from Scottish Widows back in 2016.
Numerous national and local retail brands currently trade at the centre, including B&M, Clarks, Ernest Jones, Halifax, Iceland, Superdrug and Wilko.
Mr Sears added: “This development will hopefully improve both footfall and occupancy.”
Legal advice on the deal was provided by Clark Brookes Turner Cary in West Bromwich for REI and by Winckworth Sherwood for McDonalds.
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For further information, please contact:
Jack Sears, Asset Manager, Real Estate Investors plc, 2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP
0121 265 6406 or 0121 212 3446
Prepared and issued by ASAP – mobile, 07990 978257
About Real Estate Investors Plc
Real Estate Investors Plc (REI Plc) is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.5 million sq ft of commercial property, managed by a highly experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.
The Company’s strategy is to invest in well located, real estate assets in the established and proven markets of central Birmingham and the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings. The portfolio has no material reliance on a single asset or occupier.