Barkby Group exchanges contracts on Swindon development site

The AIM-traded firm said it was now in legal negotiations with prospective tenants, who would enter into pre-let agreements for occupation at completion.

It was proposing to develop a 30,000 square foot mixed-use retail and trade scheme at the site, under which it had an estimated gross development value of £7.5m.

Barkby said the proposed development added to existing proposed schemes at Wellingborough, Maldon, Huntingdon and Saffron Walden, which it was currently developing.

The company added that it was in “advanced negotiations” to add to its development pipeline, and would be making further announcements shortly.

“I am delighted to have exchanged contracts for this site in Swindon, adding to our growing pipeline of commercial property developments,” said executive chairman Charles Dickson.

“The site is well-positioned and we are pleased 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 1238 GMT, shares in Barkby Group were up 4.6% at 18.77p.