BL and USS in pre-let success

  British Land and Universities Superannuation Scheme are preparing to start on site at the Whiteley shopping centre after achieving pre-lets on 50% of the space.   Tenants at the £64m scheme include Marks & Spencer, which has taken 60,000 sq ft and Next, which has taken 19,500 sq ft.   The shopping centre, which is set to open in spring 2013, will comprise over 50 shops totalling 242,000 sq ft of retail space, 58,000 sq ft of restaurants, cafés and other facilities and 1,136 free car park spaces.   Other pre-lets include H&M (18,200 sq ft), Boots (12,300 sq ft), JD Sports (6,800 sq ft), Bank (6,300 sq ft), Sports Direct (10,700 sq ft), Frankie & Benny’s (4,000 sq ft) and Starbucks (2,500 sq ft).   Charles Maudsley, head of retail at BL, said: “British Land will concentrate on developing mid-sized, urban retail schemes like Whiteley and leveraging our ability, experience and financial strength to create incremental value.  We have the right strategy to develop successfully and exploit future demand for the right space.”   Graham Burnett, head of property at USS added: “Achieving this level of pre-lets in the current challenging climate is testament to both the high quality of the scheme and the strength of the combined team.” Joanna.bourke@estatesgazette.com