Hambleton District Council Forward Fund Northallerton Treadmills Phase One
Central Northallerton Development Company Ltd (CNDCL), a joint venture between Hambleton District Council (HDC) & Wykeland Group, are developing the old prison site in central Northallerton with Phase One comprising three retail units two of which are pre-let to Lidl and Iceland. HDC have subsequently agreed to Forward Fund Phase One and will be investing some £9,350,000 over the construction period. The blended return to HDC will be in the region of 4.6% net of costs. HDC will benefit from long and secure rental income from Lidl and Iceland.
Richard Fisk of Pudney Shuttleworth advised HDC on the Forward Funding transaction.