Hermes is planning a 6,224 sq. m (67,000 sq. ft) retail scheme in Poole, Dorset, following the acquisition of a city centre foodstore which Tesco used to occupy.
Acting on behalf of BriTel Fund Trustees, Hermes has bought Tesco’s long lease on the store and is planning to redevelop it into an anchor unit with three ancillary shops.
According to a spokesman for Hermes, discussions are well advanced with national retailers who are looking to get into the town. Work will start next month and the scheme should be open for trading early next year.
BriTel already owns the £48m 39,947 sq m (430,000 sq. ft) Dolphin Shopping Centre in Poole. Richard Low of Hermes said: “We are delighted that our discussions with Poole Borough Council and Tesco have now been finalised. The transaction confirms our ongoing commitment to the Dolphin Centre and the new space will enable us to continue our programme of increasing the retail offer in Poole.”
Retailers in the Dolphin Centre include Beales, M&S, Boots and C&A. Goadsby & Harding and CB Hillier Parker are letting agents.
EGi News 04/06/99
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