NewRiver REIT, owner of The Martlets Shopping Centre, has taken a significant step forward in progressing the c. €76.2m (£65m) Burgess Hill regeneration, by signing leading brands Next and Nando’s as announced in the Company’s FY17 Annual Results on 16 May 2017. The two new pre-lets take the retail and leisure element of the scheme to 49% pre-let, with a further 10% in solicitors’ hands.
This news comes as NewRiver completes the purchase of a site on nearby Leylands Road, a key milestone that enables the relocation of existing occupiers within the current scheme and paves the way for the next phase of preparation works. NewRiver has agreed terms with Lidl and Iceland to surrender and relocate to sites adjacent to the shopping centre, as well as agreeing to relocate the Council-owned library to a temporary position while its new home is built. As a result of all this progress, NewRiver hope to be in a position to begin on site later this year.
This exciting announcement of popular fashion and homewares retailer Next and family friendly restaurant Nando’s marks an important step in the creation of the new 465,000 ft² Burgess Hill town centre regeneration, which will be a vibrant place to shop, dine, relax or catch a film. As well as the new multiplex Cineworld and a 63-bed Travelodge, NewRiver will also introduce to the town centre development a variety of other shops and restaurants, as well as new homes, rejuvenated public spaces, and a brand new library for the town.
Justin Thomas, Director at NewRiver, commented: “We are making excellent progress and these key events mark a significant milestone for the deliverability of this exciting development. We are delighted to have popular brands including Next and Nando’s to anchor our redevelopment in the heart of Burgess Hill. Key to the success of our proposals is creating a truly vibrant town centre experience, and new restaurants will complement the evening economy that we are aiming for, bolstered by the multiplex Cineworld that now sits at the heart of the development."