THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
HUT completes £80 million investment programme

Hercules Unit Trust, the specialist retail park fund advised by British Land and managed by Schroders, has just completed an £80 million investment programme.

GENERAL MERCHANDISE

HUT completes £80 million investment programme

Hercules Unit Trust, the specialist retail park fund advised by British Land and managed by Schroders, has just completed an £80 million investment programme.

HUT has extended its retail and leisure space across four of its assets by almost 300,000 square feet and created more than a thousand new retail jobs.

The investment programme has included a £33 million retail extension at HUT’s flagship Glasgow Fort Shopping Park which saw the opening of an 80,000 square foot Marks & Spencer store. With the size of the park now over 700,000 square feet, footfall increased by over 15% in the first two weeks of the store’s opening compared to the same period last year.

The remaining 32,000 square feet of new retail space has included Fat Face taking a lease for a 6,000 square foot unit and Wagamama signing for a 4,000 square foot space. In addition, three further units are under offer.

Earlier in the year, HUT completed extensions at three other shopping parks including 64,000 square feet of new retail space at Deepdale Shopping Park in Preston, a leisure extension of 57,000 square feet at Fort Kinnaird in Edinburgh and 54,000 square feet at Broughton Shopping Park in Chester.

Ben Grose, head of retail assets (Scotland and the North) at British Land, said: “The extensions at Glasgow, Edinburgh, Chester and Preston are further examples of HUT investing in its assets to create locally preferred places where we can add value. The M&S anchor store at Glasgow Fort enables the scheme to cater for an even broader range of consumer journeys and Fat Face and Wagamama are also strong additions to the brand line up.”

 

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process