Developer signs up John Lewis for proposed Leicester scheme
11:59 11 Mar 2004
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Property company Hammerson and Hermes has
agreed terms with John Lewis for a 20,000m² department store
in the proposed Shires West retail-led development in Leicester
city centre.
The total cost of Shires West is estimated at £250m, with
Hammerson's 60% share amounting to £150m.
A planning application has recently been submitted for the Shires
West development by Hammerson and Hermes, owner of the adjacent
existing 50,000m² Shires Shopping Centre.
The new John Lewis department store will be the principal anchor of
the proposed 60,000m² retail-led mixed use scheme.
Hammerson has operations in the UK, France and Germany, and
specialises in investing and developing shopping centres, retail
parks and prime offices.
Its portfolio of over 1,100,000m² of retail space, representing 16 shopping centres and 11 retail parks, and 220,000m² of prime offices, is valued at £4bn.