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10/05/2013

Go-Ahead For New Premier Inn Hotel

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Development Securities and its partner Wessex Investors, have secured Resolution to Grant planning at its 1.5 acre site, Atlantic Park, North Devon, for the development of a 70-bed hotel, pre-sold to Premier Inn, and a drive-through restaurant, pre-sold to McDonald’s.

The new development will be located adjacent to Development Securities’ Atlantic Village, a 110,000 sq. ft. retail scheme which includes Marks and Spencer, Gap and Nike and is anchored by an adjoining ASDA.

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The development at Atlantic Park will serve to increase critical mass at this leisure and retail destination. The planning progress announced today is a significant part of the overall plan to further enhance the value of these locations and follows on from the recent success in securing planning for a 104,000 sq. ft. extension to Atlantic Village which, once developed, will also increase critical mass.

(CD)

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