Hermes announced today that it is to invest £100m in the extension of the Broadmarsh retail centre in Nottingham to over 92,900 sq m (1m sq ft) to create a new regional shopping centre.
Richard Harrold, chairman of Hermes Property Asset Management, said the retail component of the scheme would be built on land to the south of the existing centre, which is mainly used for car parking. Hermes will also build a leisure complex on council-owned land to the east of the scheme.
Marks & Spencer is rumoured to be negotiating for the new 23,225 sq m (250,000 sq ft) store which forms part of Hermes’ proposals. The scheme would also provide an additional 70 shops and two more large stores and will be built in three phases. Broadmarsh is currently anchored by Allders and BHS.
Colliers Erdman Lewis and Oliver Liggins are letting agents.
EGi News 15/05/98
