New Retail Scheme Will Cater For Over 5m Road Users A Year
Irwin Mitchell’s Real Estate team has advised UK residential and commercial property developer Godwin Developments on its acquisition of a 3.5-acre site in Yaxley, Suffolk, which is to be transformed for roadside retail use.
The land is located on the A140 trunk road, next to a roundabout currently under construction which will support the wider improvement of the Eye Airfield area. When it is finished, the regional regeneration scheme adjacent to the site is set to provide 600 new homes, 230,000 sq. m. of industrial park land, and is estimated to create 2,000 new jobs.
Godwin Developments’ planned commercial roadside retail scheme will cater to the 5.4 million road users that travel along the A140 annually, with the route frequented by commuters between Norwich and Ipswich. The development, which will occupy land alongside Castleton Way, leading from Yaxley to Eye, is also positioned next to a large existing industrial estate in Langton Green.
The acquisition of the Yaxley site is the latest project to be added to the Godwin Developments portfolio, which already contains a diverse range of commercial, residential, and mixed-use property in key regional locations.
Irwin Mitchell Real Estate partner Ben Acheson and Solicitor Stuart McDonald advised Godwin Developments.
Nikesh Solanki, development manager at Godwin Developments, said: “We are delighted to announce we have successfully secured another prominent roadside development opportunity. The site in Yaxley benefits from a great location alongside a very busy road. When complete it will align well with the current regeneration that is taking place in the area and will serve commuters as well as the local community.
“We would like to thank Irwin Mitchell for the legal advice provided on this transaction, as well as land agents Clarke and Simpson. We look forward to working with the local community, statutory consultees, and Suffolk County Council in the next stage of this development.”