LGIM Real Assets has signed an agreement with the Borough of Poole that unlocks a £26m programme of investment at the Dolphin centre, Dorset’s largest covered shopping destination. Plans include bringing further improved retail and dining choices to the centre.
The agreement restructures the existing headlease arrangements into a single, longer lease and allows LGIM Real Assets to bring forward an 18-month improvement programme due to complete by the end of 2018.
Significant improvements will be made to the internal malls and entrances of the centre, as well as to the public realm and facades of Falkland Square and Kingland Crescent. At the same time the council will be investing £1.5m into upgrading the multi -storey car park, which it owns.
Mark Russell, senior fund manager at LGIM Real Assets, said: “We are poised to reposition the scheme in terms of ambience and offer, bringing new trading fascias into the centre and significantly improving the facilities available to our customers.”