A Branston shopping complex is to be sold in a deal worth almost £2 million. National developer St Modwen currently owns Branston Square site in Hollyhock Way and has agreed to sell it for £1.775 million to an undisclosed private investor, it has been revealed.

The development comprises a Co-op supermarket, a Birds bakery, a tanning salon called Protan, Indian restaurant Rivaj and a Barnardo's charity shop.

The sale comes after St Modwen's newly submitted plans to create 100,000 square feet of industrial space as part of the development of a one million square foot commercial business park at the Burton Gateway site.

Ian Romano, the development director at St Modwen said the sale of the land showed that the company was now able to concentrate on the development at Burton Gateway.

He said: "We received strong interest from investors, and the completion of the sale of Branston Square demonstrates that a combination of capital value, income profile and projected return is ideally suited to the requirements of a private investor.

"Our focus is now on the next phase of speculative industrial development at Burton Gateway."

Branston Square was developed as part of a 175-acre mixed use plan, which once completed will include 660 new houses and a large industrial, storage and distribution area.

It has been built on what used to be 280 acres of wasteland. St Modwen has also been involved in extensive highway works as part of the regeneration of the area, said a spokesman.

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