Land Securities has started work on a 25,000 ft² (approx. 2,315 m²) extension at its 355,000 ft² Lakeside Retail Park at Thurrock, Essex, and has already signed up two new retailers for 19,000 ft² of the scheme.
The extension will provide three new shops with two already let. CSL, a furnishings company, are taking a 14,000 ft² store and Mamas & Papas are opening a 5,000 ft² unit. The one single 6,000 ft² unit remaining is already attracting interest. The new deals are all for leases of at least 10 years and for rents in excess of £30/ft². As part of the development, Pizza Hut will relocate to a new unit, to be built at the entrance to the park.
The works started at the end of July with the newly relocated Pizza Hut expected to be open by December 2011 with the three new units due for completion by the middle of 2012.
Hermione Mackrill, Portfolio Director for Land Securities said: "In a challenging retail environment, the expansion of Lakeside Retail Park demonstrates continued retailer interest in the scheme and reinforces its position as one of the largest and most successful retail parks in the UK."
Source: Land Securities
