Legal & General has committed £53.3m to acquire and fund the development of a retail and leisure scheme in Dover town centre.
St James is being developed by Bond City and will comprise 156,915 sq ft of modern retail and leisure space.
The retail area will be anchored by Marks & Spencer and Next, alongside a six-screen Cineworld, a 108-bedroom Travelodge and six restaurants.
The scheme is 69% pre-let with a further 3% under offer. It is due to complete by autumn 2017.
St James forms part of Dover City Council’s wider regeneration plans for the town, which include working with developers to bring forward more than 10,000 new homes by 2026.
It was bought by L&G on behalf of its managed property fund.
Gerald Eve acted for L&G; Harvey Spack Field represented Bond City.
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