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Squire’s sells Windsor centre but eyes other investment opportunities

Published: 8 February 2018 - Fiona Garcia
Squire
Squire's Windsor has been sold and will close this autumn

Squire’s Garden Centres says it is actively looking for further sites, having “taken the difficult decision” to part with its centre in Windsor, which will close in the autumn of 2018 and be developed into housing.

Explaining the decision to sell the site in Windsor, the company said that the centre has been limited in its ability to “maximise its potential”, partially hindered by planning constraints because of the site’s green belt status, as well as its small car park that is shared by both customers and trucks accessing goods inwards.

According to Squire’s, Windsor Borough Council identified the centre within its emerging local plan, as being a site suitable for the development of about 40 new homes.

Squire’s said: “A number of development businesses expressed interest in buying the site. Given the inability to grow in the ways the company would like, these offers were considered seriously and a decision made to sell the site.”

The centre will stay open for business throughout the spring and summer of 2018 and will eventually close in the autumn of 2018. Squire’s said it hopes that as many team members as possible will be able to take alternative employment within the company.

The sum received from the sale of the site will be re-invested into Squire’s other centres, where the family business has an ambitious improvement programme in place, as well as being used to look for new investment opportunities.

Deputy chairman Sarah Squire said: “We are committed to re-investing in all areas of our business and one of our primary aims is to add further sites to our portfolio. We have confidence in the future of our sector despite the current economic and political uncertainty.”

Managing director Martin Breddy added, “We do not have any particular size requirements, although we are keen to keep within the South East of England, and our preference is for freehold sites wherever possible.”

The company said that it would like to thank the team at Windsor for its longstanding commitment and hard work, adding that it is “business as usual until autumn.

 

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