Shopping Centre
Lettings surge at three new malls
Published:  11 October, 2006
Page 1 

A massive 940,500 sq ft of retail accommodation comes on board this month with the opening of three malls.

The £200m Drake Circus in Plymouth, owned by Morgan Stanley Real Estate Fund and P&O Estates, was the first to open its doors on October 5, delivering 560,000 sq ft of retail space including 48 shops, nine major stores and an M&S department store, as well as cafes and restaurants. Retailers include Primark, Next, Zara, H&M, Boots and Virgin.

The scheme was 90 per cent let on opening day and P&O Estates director Graham Corser said: "There continues to be a lot of interest from prospective retailers, and we have more deals in the pipeline which we will be able to announce after opening."

Joint letting agents for Drake Circus are Lunson Mitchenall and Hartnell Taylor Cook.

PalaceXchange, ING Real Estate Development's 160,000-sq ft town centre scheme in Enfield, north London, will be the next to open in mid-October. It is made up of 24 retail units, a 530-space multi-storey car park and a civic and community facility.

ING has developed the scheme in conjunction with the London Borough of Enfield, and it is currently 80 per cent let or under offer, with several other new retailers due to be confirmed ahead of the opening. Tenants include Next, TK Maxx, New Look and TopShop.

The scheme will increase the retail provision in the town by more than a quarter. Letting agents are Nash Bond and Chase & Partners.

The Heart, Walton-on-Thames, owned by O&H, will open on October 25. The overall scheme is 220,500 sq ft and includes 42 retail shops, 10 restaurants and cafes, four kiosks, 279 one-to-three-bedroom apartments, a library and a health club.

The retail line-up includes River Island, Coast, Next, New Look and Desire by Debenhams.

Alison Allen at O&H said: "Our aim is to offer a diverse mix of both retail and restaurant offers, so people won't have to go outisde the borough to shop and dine at a vibrant environment."

CWM, CBRE and Shelley Sandzer represent O&H.



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