Clocktower retail park home

Dunelm tipped for new store at proposed Clocktower Retail Park

The property division of homewares retail chain Dunelm has acquired Alban Retail Park in St Albans in deal worth almost £6m.

Dunelm Estates Limited bought the 25,000sq ft asset in Hertfordshire for £5.75m from previous owners LondonMetric Property and is let to Dunelm for a further four years.

Andrew Jones, chief executive of LondonMetric, commented on the deal, which was officially announced earlier this month: “We will continue to respond to strong buying interest for our mature retail assets and monetise where we see preferable opportunities to reinvest.”

In other news, Dunelm has been linked to open a new store in Chelmsford after rumours it could potentially take a unit at the newly proposed Clock Tower Retail & Industrial Park.

According to local media source, Essex Live, a Chelmsford City Council representative suggested that Dunelm would be a good example of the type of retailer the retail site was looking for, as there is currently no Dunelm in the area.

The Clock Tower Retail & Industrial Park, which is proposed to take the space of the former Britvic site on Westway by Exton Estates, includes around 86,000sq ft of retail space, as well as around 84,000sq ft of industrial space.