04 NEWS ... In brief
Cushman crowned The Crown Estate has appointed Cushman & Wakefield to manage its £1.5bn regional portfolio. The five-year contract will see Cushman & Wakefield provide property and facilities management, together with finance and business support. In addition the team will work with The Crown Estate in implementing its sustainability strategy for the portfolio. The contract will be led by property and asset management partner Anne Rush.
New start for Newport Planners have given the green light for Queensberry’s revised plans for the Friars Walk retail and leisure scheme in Newport city centre. Queensberry Real Estate has been granted permission to demolish existing buildings in the John Frost Square area and create a four-storey anchor store and 35 shop units as well as a six-screen cinema, eight restaurants and cafes, a new bus station and a 360-space car park. It will provide more than 330,000 sq ft of retail floor space in the heart of the city centre as well as a new John Frost Square public realm.
Macclesfield application Wilson Bowden has submitted a detailed planning application to Cheshire East Council for the Silk Street redevelopment in Macclesfield town centre. The 250,000-sq ft scheme will cover an area from Exchange Street to Park Lane, bounded by Mill Street, Water Street and Churchill Way. Plans include a department store and 20 retail units. Car parking will be provided on the current Water Street car park and in a new multi-storey car park off Churchill Way by Samuel Street.
Hammerson wins Whitgift competition
Royal London Asset Management and IBRC Assurance Company have selected Hammerson as their preferred partner for the Whitgift Centre, Croydon. However, the freeholder, the Whitgift Foundation, has already selected Westfield as its own development partner for the 580,000-sq ft south London centre. Royal London Asset
Management and IBRC Assurance Company chose Hammerson after a review by Jones Lang LaSalle. Westfield and Lend Lease are reported to have been among the underbidders.
Hammerson is already a
key stakeholder in Croydon through its ownership of Centrale shopping centre and it said the merger of the two interests will create a unique opportunity to bring about a game-changing event for the benefit the whole town.
In a joint statement, RLAM and IBRCAC said: “The Whitgift Centre lies at the heart of Croydon and its successful redevelopment will be a crucial element in the regeneration of the town itself. This consideration underlined every step of our rigorous process of selecting the best partner for the job.”
Halifax retail scheme given green light
Royal London Asset Management’s retail scheme in Halifax town centre has been granted outline planning permission. The 123,000-sq ft re- development of the Pennine shopping centre, which will be demolished and re-built, is proposed on land that lies to the south of the town centre. The designs for the scheme were created by Wakefield-based architects, The Harris Partnership. The new scheme will have pedestrian links to key areas such as
Market Street, The Piece Hall and the town’s transport hubs. It will also include 500 car parking spaces. Michael Schorah, managing director of The Harris Partnership, said:
“Our client has identified a need to redevelop a site which will radically enhance this part of Halifax while complementing the existing shopping facilities.”
SHOPPING CENTRE April 2012
www.shopping-centre.co.uk
closures Mothercare has announced a further reduction in its UK store portfolio, reshaping the UK estate around a profitable core of 200 stores. This will comprise 95 out of town stores and 105 key high street stores. Of these, 173 will trade as Mothercare and 27 as Early Learning Centre. In the past year Mothercare
Mothercare announces more store
closed a net 62 stores in the UK (three Mothercare and 59 Early Learning Centres), taking the total UK store base to 311 today. The company has now decided to close a further 111 stores (36 Mothercare and 75 Early Learning Centres) over the next three years to March 2015, taking the total store estate to 200.
On an annualised basis the
store reduction programme is expected to improve UK profits by £13m, by March 2015.
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