John Lewis confirmed this morning it had agreed terms to anchor two major UK retail-led schemes.
The St David’s Partnership, a joint venture between Land Securities and Capital Shopping Centres (CSC), said that the department store chain had signed heads of terms to anchor the £500m St David’s 2 development in Cardiff city centre.
At the same time, Hammerson and Hermes confirmed they had agreed terms with John Lewis for a 215,285 sq ft (20,000 sq m) department store at the proposed Shires West retail-led development in Leicester city centre.
In Cardiff, John Lewis has taken a four-storey, 240,000 sq ft (22,296 sq m) store on undisclosed terms.
The 1m sq ft (92,900 sq m) St David’s 2 mixed-use scheme is one of the largest proposed retail-led developments in the UK and will include shops, cafes and restaurants, leisure, offices and up to 300 flats.
It is an extension of the existing 350,000 sq ft (32,515 sq m) St David’s Shopping Centre.
Peter Cleary, head of Land Securities retail development, said: “John Lewis will contribute significantly to the continuing growth of Cardiff as a major centre for shopping, leisure and tourism.
“This is an important first step in our preletting programme to attract world-class retailers to the city.”
St David’s Partnership is due to submit a detailed planning application later this year.
It hopes to start on site next year with completion and opening in 2008.
In Leicester, John Lewis will anchor Hammerson and Hermes’ 650,000 sq ft (60,000 sq m) Shires West.
The £250m mixed-use scheme is a key element of the masterplan for the city centre being implemented by Leicester Regeneration Company and Leicester council.
It will be located adjacent to Hammerson and Hermes’ existing 550,000 sq ft (50,000 sq m) Shires Shopping Centre.
Peter Cole, development director of Hammerson, commented: “Together with Hermes, we have been working closely with both Leicester city council and Leicester Regeneration Company to bring forward this exciting scheme.
“We are delighted to have agreed terms with John Lewis for its new department store.”
Luke Mayhew, managing director of John Lewis, said: “This multi-million-pound investment demonstrates John Lewis’ aim of securing a major representation within the East Midlands region.
“We are delighted at the prospect of offering shoppers an exciting department store as part of Shires West and look forward to working with the development partners.”
References: EGi News 11/03/04
