Hammerson has been given planning consent for an 80,000 sq ft (7,500 sq m) retail park in Thanet, Kent which went to public inquiry last year.
The scheme will occupy a site adjacent to Hammerson’s East Kent and Westwood Retail Parks and opposite the proposed Westwood Cross Shopping Centre, which is due for completion in 2005.
It will be anchored by a 52,000 sq ft (4,830 sq m) store, which has been prelet to Homebase.
The retailer will relocate from its existing smaller premises on Westwood Retail Park.
The remaining space is likely to be subdivided into two shops.
Construction is expected to start at the end of this year, following the relocation of an existing business.
The total costs are anticipated to be £14m.
Hammerson recently acquired retail parks in Sheffield and Brent Cross, London.
It now has a portfolio comprising 18 retail parks with a value of over £400m.
References: EGi News 14/01/04
