Wokingham: Wilson Bowden secures prelets at Elms Field and prepares for Peach Place

Wilson Bowden Developments and Wokingham Borough Council have secured two prelets to Premier Inn and Everyman Cinemas as anchor tenants at the Elms Field £25 million mixed-use regeneration development at the edge of Wokingham town centre.

Work on the site is due to begin in early spring 2017 with completion scheduled for autumn 2018. Wilson Bowden Developments and Wokingham Borough Council are concurrently undertaking a regeneration project in the town centre at Peach Place, the delivery of which will coincide with that of Elms Field.

Strutt & Parker represented Wokingham Borough Council. Peter Spelman Consultancy and Restaurant Property acted on behalf of Premier Inn and Everyman Cinemas respectively.

In addition to the 92-bedroom hotel and three-screen boutique cinema, Elms Field will house a 17,000 sq ft  food store, four restaurants, 10 shops and an 88-space car park. Peach Place will comprise 10 restaurants and shops based around a central plaza and fronting onto the retail pitch.

Rob Williams, head of retail agency and development at Strutt & Parker, said: “The creation of Elms Field and Peach Place will bring two new vibrant retail and leisure areas to Wokingham. Increasingly local authorities are undertaking their own retail and leisure developments to ensure viable solutions are delivered. ”

Bernie Pich, head of town-centre regeneration at Wokingham Borough Council, said: “We’ve been talking to a variety of companies about taking on units and we think local people are going to be excited when they see the businesses signing up to come to the town.”

Credit: CoStar