Dransfield Buys Market Cross

DRANSFIELD PROPERTIES BUYS SELBY'S MARKET CROSS CENTRE!

26 January 2005

Retail developers and urban regeneration specialists Dransfield Properties Ltd have exchanged contracts to buy Selby’s Market Cross Shopping Centre.

Market Cross, in Selby Town Centre, has been bought by the South Yorkshire based company this  week for £7 million reflecting an initial yield of 7 percent -  the initial plan for the development is to manage the centre and improve the tenant mix.

In the long term the company will be looking at a programme of investment and improvement of the shopping centre.

Market Cross is situated between Market Place and the William Morrisons foodstore and comprises of 22 retail units extending to 48,000 sq ft.

The centre is anchored by Argos, other retailers include Thomas Cook, Rosebys, Greggs and Yorkshire Bank.

Dransfield Properties Ltd already has experience of working in Selby and the company has just been granted planning permission to deliver the second phase of the successful Three Lakes Retail Park which opened in March 2004.

Mason Owen have been appointed by Dransfield Properties to manage the estate and are joint letting agents with Leeds based Rees Denton.

Andrew Malley, Retail Property Director for Dransfield Properties said: “We are delighted with our purchase of the Market Cross Shopping Centre and we are looking forward to attracting further retailers to the area and getting the retailing mix right.

“Through our work with national retailers we are aware of outstanding demand from many high street retailers who would like to be in Selby and we will be working with those retailers.

“We are working on proposals for the long term improvement of the area to enhance the shopping offer available in Selby Town Centre.”

For further information about Dransfield log on to the company’s website at www.dransfield.co.uk

FOR FURTHER INFORMATION CONTACT:

    Amanda Holmes, Public Relations –
    Dransfield Properties Ltd
    Tel: 01226 360644 or 07971 854733

EDITORS NOTES

1/Dransfield Properties Ltd are based in Barnsley, South Yorkshire and are one of the leading specialist retail developers in the country specialising in projects of urban regeneration.

2/Dransfield Properties was awarded the BCSC award for working with the community two years ago and for two years running was awarded the RICS Pro Yorkshire Award for Regeneration.

3/The company has experience of working on retail developments in town and district centres as well as retail park developments. The company’s St Andrews Retail Park on Hull’s Hessle Road was given the RICS Award in 2002.
 

For further information, contact:

Public Relations Department, Dransfield Properties Ltd
Tel: 01226 360644
Email: pr@dransfield.co.uk