Swindon Morrisons: Cost of leasing supermarket revealed

Morrisons first moved into the Regent Circus complex in 2014 but struggled to make its mark on the town, permanently closing its doors in November of 2019.

With 113 staff members working there at the time of the closure, a petition was set up to keep the store open but despite it being signed by over 1,000 people, it was to no avail.

Now almost four years on and the property still stands empty, abandoned by Morrisons who are still paying close to £1,000,000 a year for the tenure.

Morrisons has stood empty in Swindon for almost four years now. (Image: Newsquest archive)

The Adver revealed last month that the site was now “under offer” after uncovering letters between Harris Lamb Property Consultancy and Swindon Borough Council regarding a planning application to redevelop the fire-damaged Madison Hotel.

It appeared that Morrisons had been proposed as a possible location for a Homebase with a garden centre and drive-thru Costa Coffee but was rejected.

Developer Paloma II (Industrial) I LLP wished to build the Homebase on the site of the burned down hotel instead, stating that the Morrisons unit was not only unsuitable but also “under offer”.

Revealed in this correspondence was also a Colliers property brochure advertising the Regent Circus site which included details about the tenure, size and specifics of the Morrisons shop.

The property brochure from Colliers reveals several details about the empty Regent Circus unit. (Image: Colliers)

The leaflet revealed that tenure term is 25 years which began on October 13, 2014, with a tenant break option effective from October 13, 2034, on six months’ notice.

It also mentions that the modern purpose-built store has 49,739 square feet of gross internal area while the dedicated ground floor car park has 238 spaces.

The site is suitable for retail and leisure uses, subject to planning and landlord’s consent and offers will also be considered for sub-leases of the whole or parts.

The location of Morrisons documented in the property brochure. (Image: Colliers)

Regarding the sub-leases, the leaflet reads: “Offers will also be considered for a sub-lease of the whole of the store and the associated dedicated car park for a term up to the tenants break date on October 13, 2034.

“Alternatively, Morrisons will consider sub-letting the store premises in parts and interested parties should contact the agents to discuss their space requirements and terms.

“The lease allows retail use, but leisure uses will also be considered subject to planning and landlord’s consent for a change of use.”

The rent, which is currently at £988,200 per annum will be reviewed on October 13, 2024.