Working in partnership with abrdn, the vacant office space above the Petty Cury frontage shops has been converted into a 125-bedroom Premier Inn hotel.

Paul Smith, Acquisitions Manager for Whitbread, said:

"We have an excellent track record of converting former office spaces into vibrant and successful Premier Inn and hub by Premier Inn hotels. We were able to take this experience to abrdn and work with them to develop plans to convert a redundant office above the popular Lions Yard shopping centre into a latest format Premier Inn hotel.

"This acquisition will allow our business and leisure customers to stay in a unique location in the very heart of historic Cambridge. Our partner abrdn also benefits from a secure, indexed-linked income stream from Whitbread and our expertise at converting existing spaces into thriving hotels. We are looking for other similar opportunities across the country as we grow our network towards our target of 125,000 Premier Inn and hub bedrooms."

Premier Inn, part of Whitbread PLC, is the largest provider of hotel bedrooms in the UK with more than 850 hotels across the UK and Ireland. Premier Inn is the UK's biggest hotel brand and is consistently rated the UK's Best Value Hotel Chain in YouGov hotel brand index surveys.

The company was advised by Cambridge-based property consultants MP Real Estate on the Lion Yard acquisition. MP Real Estate are retained by Whitbread to source new opportunities for Premier Inn across the Eastern Region and Northern Home Counties.

AVIVA Investors have secured planning permission to build new Costa and Wendys drive thrus at their highly successful Festival Leisure Park located just south of the A127 in Basildon.

Festival Leisure Park is anchored by an 18-screen Cineworld Cinema along with other complimentary leisure operators including Hollywood Bowl, Mr Mulligans Golf and 360 Play. Restaurant and F&B operators include Nando's, Wagamama, Slim Chickens, McDonalds, Five Guys, TGI Fridays and Pizza Express.

Construction of the new Costa and Wendys drive thrus will begin in early 2025 with both opening later that year.

Costa were advised by MP Real Estate.
AVIVA were advised by KLM Real Estate.

Costa will be opening a new drive thru on the Hall Road Retail Park in Norwich which is located on the roundabout junction of the A146 (outer ring road) and Hall Road, approximately 1.5 miles to the south of the city centre.

Hall Road Retail Park is owned Schroder Property Investment Management Limited and existing tenants include Aldi, Pets at Home, Homebase, Home Bargains, The Food Warehouse and Pump Gyms.

Construction of the new 1,800 sq ft Costa is underway and is scheduled to open in Spring 2025.

Costa were advised by MP Real Estate.
Schroder were advised by Edgerley Simpson Howe.

Aldi have secured planning to relocate their existing discount food store in Diss to a new, purpose-built store to ne built on the former Norfolk Feathers site factory in Park Road.

Aldi has been at their current store on Mere Street since 2014, but it no longer meets Aldi's requirements, nor provides a modern shopping experience for their customers.

The new Aldi store will provide circa 20,000 sq ft with 119 car parking spaces, including 7 accessible, 10 family, 17 staff and 4 electric vehicle charging spaces.

Demolition of the existing buildings is underway. The new store will open in 2025.

MP Real Estate acted for Aldi.

Aldi have secured planning from Fenland District Council for a new discount food store to be built on Hostmoor Avenue in March.

Aldi's planning consultants, Planning Potential, secured unanimous approval at Committee for a new Aldi store to be built on the out-of centre employment site, whilst successfully defending the decision, following a competitor’s challenge through Judicial Review. Tesco are located directly opposite.

The new Aldi store will provide circa 19,225 sq ft with 109 car parking spaces.

Demolition of the existing buildings is underway. The new store will open in the first half of 2025.

MP Real Estate acted for Aldi.
Eddisons acted for the joint vendors.

Planning permission has been secured by Ipswich based developer, The Churchmanor Estates Company PLC, for new Costa and McDonald drive thrus at Suffolk Business Park, an exciting new gateway development occupying 57 acres of strategic employment land at junction 45 of the A14 in Bury St Edmunds.

Churchmanor have just begun construction of both drive thrus which are due to open before the end of 2024.

Costa were advised by MP Real Estate.
Churchmanor were advised by Eddisons.

Aldi, the UK's leading food discounter, have obtained planning permission for a new store on a former industrial site located on the corner of Hostmoor Avenue and Martin Avenue in March, Cambridgeshire.

The 2.2 acre site will accommodate an Aldi store of 19,418 sq ft along with 102 car parking spaces. Construction is due to begin later this year with an anticipated store opening in early 2025.

Aldi were advised by MP Real Estate.
The joint vendors were advised by Eddisons.