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Waitrose unveils plans for first South Bank store

Waitrose has unveiled plans to open its first store in London’s South Bank district.

GENERAL MERCHANDISE

Waitrose unveils plans for first South Bank store

The supermarket has agreed a long-term lease for a new little Waitrose branch at the new South Bank Tower multi-million pound development which is a landmark scheme by private equity real estate business, CIT, and Riyadh based investment bank, Jadwa Investment.

Offering 3,000 square feet of selling space, the unit will be handed over to Waitrose next May and is expected to open in July 2016.

The development will provide approximately 200 new luxury apartments, 220,000 square feet of offices and 36,000 square feet of retail space. Hermes Investment Management and Canada Pension Plan Investment Board have been contracted to purchase the commercial element, which has been called South Bank Central.

The store will create more than 40 jobs and recruitment is expected to start in spring next year.

Waitrose director of development, Nigel Keen, said: “The much sought after South Bank Central provides yet another exciting platform in making the little Waitrose brand increasingly visible to the capital’s shoppers.

“South Bank is a fast emerging part of London that is becoming increasingly attractive to retail and office occupiers, which are drawn by the unique nature of the area and the already established residential population.”

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