AEW has secured retailer Next as a tenant at its Festival Place shopping centre in Basingstoke.
The fashion chain has signed a new lease that almost doubles the space it occupies in the centre. It will take a two-floor unit covering 48,000 sq ft and will add a café to its range of home, kidswear and fashion items.
This is the first major letting that AEW has conducted on behalf of its client, the Teacher Retirement System of Texas, since it acquired the site in December 2015.
Russell Jewell, managing director and head of private equity funds at AEW Europe, said: “This deal with Next represents the largest leasing transaction in the centre for the past ten years and is indicative of the positive retail sentiment in Basingstoke and appetite from both international and national brands.”
AEW was advised by Lunson Mitchenall, Cushman & Wakefield and Shoosmiths.
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