Tops Estates, which specialises in town centre retail investments has won outline planning consent to increase the size of its 26,477 sq m (285,000 sq ft) Clayton Square shopping centre in Liverpool by 1,068 sq m (11,500 sq ft).
Tops’ chairman Everard Goodman has confirmed that he is in negotiations with one of the centre’s anchors to increase its unit by 743 sq m (8,000 sq ft).
Goodman said: “We are now preparing a detailed consent submission and the fact that we are in negotiation with an existing anchor says that Clayton Square is making a tremendous impact on Liverpool.”
The 26,477 sq m (285,000 sq ft) Clayton Square comprises 46 units and generates £200,000 pa.
News of the Clayton Square expansion emerged with the publication of Tops Estates’ interim results. These revealed a 50% increase in pre-tax profits to £1.2m in the six months to September 30.
Annual rental income on the group’s freehold portfolio, valued last April at £280m, fell from £9.55m last September to £9.52m this September.
EGi News 03/12/96
