Shopping Centre
Westfield signs M&S and Debs
Published:  31 October, 2007
Page 1 

Westfield has completed its first shopping centre development in the UK, with the opening of the £340m Westfield Derby six months ahead of schedule. And at the same time it has secured anchors for three more developments in its £11bn UK development programme.

Debenhams and Marks & Spencer have both agreed to anchor the Broadmarsh scheme in Nottingham and Broadway in Bradford, while M&S has also committed to a major store at Stratford City in London.

In Nottingham, Westfield is planning a £700m redevelopment of the Broadmarsh Centre in partnership with Hermes. Debenhams will increase its presence in the city with a modern 155,000-sq ft store that will replace its existing 101,911-sq ft outlet. And M&S will take the other anchor store in the extension, which will more than double the size of the centre to 1.4 m sq ft.

Debenhams and M&S will also anchor Westfield's £300m Broadway regeneration project in the centre of Bradford, which will create a new 588,000-sq ft retail destination. The £350m mixed-use scheme will consist of a two-level mall alongside 1,700 parking spaces, 40,000 sq ft of offices and 180 apartments.

And in London M&S has signed up as the second anchor for the Stratford City development at the entrance to the London Olympics site. John Lewis and Waitrose have already committed to the scheme, which is Europe's biggest urban regeneration project providing 1.88m sq ft of retail as well as office, hotel and residential space.

The deals mean Debenhams anchors six of Westfield's ten UK projects and M&S seven. Westfield's MD for the UK and Europe, Michael Gutman, said: "This is a landmark occasion for Westfield in the UK. Over the next decade we expect that our UK assets under management will grow from £4.3bn currently to approximately £11bn and come to represent a large part of Westfield's global operations."



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