Intu acquires Charter Place shopping centre
Intu has acquired the Charter Place shopping centre from Watford Borough Council as part of plans to extend the adjacent Intu Watford shopping centre.
The shopping centre operator will invest £100 million in the transformation of both centres which will include the refurbishment of Intu Watford.
Intu said its plans will focus on enhancing Watford's overall retail, entertainment and leisure offer, and will include new shops, restaurants, a cinema and a food store.
Jonathan Ainsley, asset management director for Intu said: "The exchange means we can really get the wheels in motion developing our plans. Providing a strong mix of leisure, catering and retail is hugely important to Watford, and the creation of our national brand, Intu, will go a long way in attracting major modern brands to the town."
Dorothy Thornhill, elected mayor of Watford said: "Intu has really exciting plans for Watford which supports our strategy of investing in the future of the town. While many other areas of the country are struggling, this is a real vote of confidence for Watford. I’m really pleased with the mix of leisure and retail that will be coming, together with the extra jobs that will be created. The bottom line for me is that Watford residents deserve the best and they’re going to get it."
The next step will involve Intu submitting its plans to Watford Borough Council’s development control committee including holding a public consultation on the scheme.
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