'Major national retailer' looks to move into Aylesbury retail park
Bucks Council own the land and need to get a unit ready
A 'major national retailer' is going to expand in Aylesbury, to a mostly-empty retail park.
Bucks Council say they've found a tenant for Vale Retail Park and they need to prepare the site for the un-named store, as they own the site.
A report says:
"The proposed works and letting deliver a high-quality covenant, reduces existing budget pressure by creating a secure income stream and raise the profile of the Retail Park, improving the prospects of further lettings of the remaining units to high-quality covenants at a full market rent."
In late 2019/early 2020 the council was talking with a tenant for units 1-3, but these discussions fell through in the end.
They say interest in the site has been 'limited' due to a decline in physical retail spaces and other offerings around Aylesbury.
Their longer-term aim is to redevelop the site - possibly for housing or leisure.
The Council purchased the site in 2015 and they have been looking at putting over 140 flats on the site.
However, the price paid for the land back then wouldn't be covered if those plans went ahead today.
So for now, retail is the way forward.
That council report continues:
"The longer-term aspiration for the site is to bring forward for residential development as part of the evolution of the Aylesbury Town Centre to support the provision of affordable housing and the support of businesses within the town centre. Alternatively, other uses could be considered for the site such as offices or leisure which might release other sites in the town centre for market and affordable housing."
As yet, it isn't clear who will be expanding to the retail park, but we do know they already have a presence in Aylesbury.