Whiteley reaches 50 per cent pre-let
Published: 02 December, 2011
British Land and USS press start button on the £64m redevelopment of Whitley outlet village into a full-price mall
British Land and Universities Superannuation Scheme have confirmed that construction proper will begin in January 2012 on the 300,000-sq ft Whiteley shopping centre in South Hampshire.
Lettings at the £64m development have now reached 50 per cent by floor area, with M&S committing to anchor the scheme with 60,000 sq ft and Next taking 19,500 sq ft.
The shopping centre, which is set to open in spring 2013, will comprise over 50 units totalling 242,000 sq ft of retail space, 58,000 sq ft of restaurants, cafés and other facilities and 1,136 free car park spaces. Other pre-lets include H&M in 18,200 sq ft, Boots in 12,300 sq ft, JD Sports in 6,800 sq ft, Bank in 6,300 sq ft, Sports Direct in 10,700 sq ft, Frankie & Benny's in 4,000 sq ft and Starbucks in 2,500 sq ft.
The development will transform the existing outlet scheme into a significant shopping centre destination, featuring contemporary shop units with double height glazing centred around a new town square. Situated between Portsmouth and Southampton, the scheme is just off Junction 9 of the M27.
Charles Maudsley, head of retail for British Land, said: "Whiteley has the success factors we look for in all our schemes: dominance and accessibility; affordability; good unit configuration and flexibility; and an excellent overall shopping environment.
"British Land will concentrate on developing mid-sized, urban retail schemes like Whiteley and leveraging our ability, experience and financial strength to create incremental value. We have the right strategy to develop successfully and exploit future demand for the right space." Completion is projected for spring 2013.
