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25 Jan 2021 | 15:44

Barkby exchanges contracts for site in Malden

(Sharecast News) - Diversified business the Barkby Group has exchanged contracts on a property development site in Malden, Essex, it announced on Monday. The AIM-traded firm said it was now entering into legal negotiations with four tenants who would enter into pre-let agreements for occupation at completion of the re-development.

It was proposing a development of a 15,400 square foot mixed-use retail and trade scheme at the site.

Under the proposed development, the site had an estimated gross development value of £6m.

The board said that added to existing proposed schemes at Wellingborough, Huntingdon and Saffron Walden, which Barkby was currently developing.

"I am delighted to have exchanged contracts for this site in Malden - it adds to our growing pipeline of commercial property developments," said executive chairman Charles Dickson.

"The site is well positioned, and it is good to see that we are once again seeing strong demand from both the retail and employment sectors for new, well-located, developments despite the wider economic impact of the pandemic."

At 1024 GMT, shares in the Barkby Group were down 2.33% at 21p.
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