Marks and Spencer sign up to replace Sidcup co-op

22/10/2019 0 Comments

Marks and Spencer have signed a pre-let agreement to replace co-op at a development site beside Sidcup station.

Earlier this year plans to demolish the existing building and construct a new shop and 59 flats were approved.

According to an advert placed by Acorn Property, Marks and Spencer have agreed to pay rent of £365,000 a year for 20 years. The co-op currently pay £164,000 a year in rent.

One fly in the ointment though. The advert exists as the site owners who secured permission are now selling the site. No sale = no Marks and Spencer.

------------------ Adverts are far from enough to cover site costs and my rent.
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