A fund managed by JP Morgan Asset Management has obtained planning consent to deliver a new 20,000 sq ft retail scheme at Spitalfields, E1.
The speculative development, designed by Foster & Partners, includes a new 12,000 sq ft, two-storey building next to Spitalfields Market, which will provide retail and leisure space.
Additionally, existing retail units on Market Street will be extended with new shop fronts. Completion of the first phase is scheduled for December.
Paul Harris, vice president for JPMAM, said: “Despite the current challenges in the retail market, we recorded 23m visitors in 2019 and have continued to attract high quality international brands.
“We are confident our proposals will bring new entrants to the UK market and further enhance Spitalfields’ reputation as the prime City location for retailers.”
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