A TV shopping channel created in Peterborough following a £1.9million crowdfunding appeal is set to relocate after just seven months.
Hochanda, which has its studios in a warehouse in Mancetter Square, Lincoln Road, where it employs 98 people, is poised to make way for a multi-million pound supermarket development for Lidl.
The plan involves the demolition of the warehouse occupied by Hochanda, created by millionaire duo Paul Wright and Val Kaye, the founders of Ideal World, which they sold for £80 million five years ago.
Hochanda’s executives say they have looked at a number of venues but nothing has been decided but are adamant they will stay in Peterborough.
The warehouse was also once home to maternity and nursery business Kiddicare set up by Neville Wright and his wife Marilyn, who own the 8,000 sq metres site.
Jamie Martin, chief executive of Hochanda, said: “We are excited to announce that the Hochanda headquarters will be relocated.
We are excited to announce that the Hochanda headquarters will be relocated.Jamie Martin, chief executive
“We were always aware of the potential redevelopment on Lincoln Road, so relocation has always been a part of our plan from day one.
“We have already looked at potential venues in the area so we can continue to recruit locally where possible.
“This is a very exciting time after what has been an overwhelming welcome and seeing unprecedented results in our first six months we can now embark on the next chapter of our journey.
“We have state of the art technology at our headquarters and are looking forward to enhancing this further in a new site by adding to our studio set up with additional technology and equipment.”
“During these very early stages of planning submission, an exact timeline is not determined however we will continue to work closely with our landlord to ensure that any move will be without any impact to our business operations, and our customers who are always at the forefront of our minds.”