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Centre redevelopment helps attract Greggs to Market Walk, Newton Abbot

Retail & Leisure Agency

Teignbridge District Council, represented by property consultants Alder King, has secured a new national occupier for Market Walk, its 27 unit shopping centre in Newton Abbot, Devon which is currently undergoing a £2 million refurbishment.

Greggs agreed a 10 year lease on Unit 3 and has recently opened in the centre, joining other regional, national and local businesses including Game, Holland & Barratt, O2, New Look and Clarks.

Teignbridge District Council acquired the 91,000 sq ft Market Walk shopping centre in 2016 for £13 million in a drive to positively influence the future development of the town’s central shopping district as well as generate a stable income stream.

The redevelopment will transform the look and feel of the shopping centre, with the removal of the concrete entrance and the installation of a new glass roof running from Courtenay Street to Market Street as well as improvements to the shopping facades on Market Walk.

Will Acock of Alder King in Exeter said: “This is an exciting time for Market Walk with significant investment being made to upgrade the centre and enhance the retail offering.  This is resulting in a good level of interest from new national and local occupiers looking to take space in the scheme.”

“We are now marketing Unit 5 (click here to view the brochure) which provides 1,095 sq ft of prime, well-configured retail accommodation over two floors and is available on a new lease at a rent of £21,000 per annum.”

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