| |
| | | | 10/04/2015 | Property Week - Shopping centre growth in UK up 60% | | | | | UK shopping centre development up 60% in past six months | | | | | Property Week reports that research by Strutt & Parker has revealed that the amount of committed shopping development in the UK has shot up 60% in the past six months, with a total of 5.1m sq. ft. now under construction.
The report found that since October developers had pushed the button three schemes, which would provide an additional 1.9m sq. ft. of retail and leisure space: Bond Street in Chelmsford (300,000sqft), Westgate Centre in Oxford (800,000sqft) and Town Centre, Bracknell (800,000sqft).
There were a total of nine shopping centre schemes currently underway in the UK, the report found, but there were still no commitments from developers to deliver new centres after 2017.
The report said the 2.9m sq. ft. to be delivered in 2017 would be the largest amount of new space since 2008, when a total of 12.1m sq. ft. was constructed.
Flemingate in Beverley, The Crescent in Hinckley, Friars Walk in Newport, Grand Central in Birmingham and Westfield Bradford are all set to open this year - the highest number of centres to be completed in one year since 2009. |
|
|