Source: Oxford Mail, 2 April 2014
SAINSBURY’S has announced that it is withdrawing from the much-delayed £50m redevelopment of the Charter in Abingdon.
Sainsbury's cite a failure to reach agreement with Charter operator Scottish Widows Investment Partnership (SWIP) on a viable scheme. Last night it was unclear what length of delay Sainsbury’s withdrawal would cause.
Sainsbury’s spokeswoman Janet Heald said: “We were negotiating a deal with (developer) New River and Scottish Widows but couldn’t reach agreement on a viable scheme, so we made the decision not to progress any further.
The Charter has been earmarked since 2009 by leaseholder Scottish Widows for development of a supermarket, medical centre, library and possibly a hotel. Scottish Widows are now exploring a range of other options and hope to report further in due course.
Scottish Widows refuse to say if any discussions had started with another supermarket chain.
Scottish Widows has a 150-year lease from Vale of White Horse District Council and has already spent £4.5m revamping existing shops.
Vale spokesman Gavin Walton said: “We continue to work positively with our partners to bring forward a solution for the Charter area.”
In 2009, senior investment manager Peter Webb of Scottish Widows said : “We appreciate that Abingdon residents have been given promises by previous owners, which has resulted in disappointed shoppers.”
