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British Land buys new site
BRITISH Land yesterday said it has acquired the 2.3-acre Canal Corridor North site in Lancaster city centre that includes the former Mitchell’s of Lancaster brewery.
The property giant is also in talks with Lancaster City Council to buy its adjoining land to build a retail-led scheme across the 10 acre site.
“Lancaster has seen very little retail investment over the last two decades and we look forward to creating a retail and leisure destination to serve local people and attract significant numbers of visitors into the city,” said Richard Wise, head of retail development for British Land.
Wise believes the initial investment could lead to a future development end value of over £75m for the company.