Legal & General Property has agreed three new tenants in Watford town centre, Hertfordshire.
The lettings come as L&G undertakes a reconfiguration of the 22-23 The Parade High Street property, which has been vacant since August 2011 after tenant TJ Hughes went into administration.
B&M Bargains has signed a 10-year lease for the 19,000 sq ft ground floor, and insurance company Clements has taken the 19,000 sq ft basement on a 10-year lease.
In addition, Watford Borough council will relocate the town’s Watford Market from Charter Place onto the entire car park site, for a term of 25 years.
Dorothy Thornhill, elected mayor of Watford, said the new retailers and market “will create real vibrancy in this part of the town centre and will attract more shoppers and visitors”.
James Whitehill, senior fund manager at Legal & General Property, said: “We will be working hard to bring this property back to life, modernising and reconfiguring its offer in order to ensure that it is well placed to serve the medium-to-long-term needs of Watford’s local population, attracting retailers that will drive footfall to this section of the town centre.”
