Phase two of Waterside development begins
Capital & Regional, the specialist retail property company, has announced the beginning of phase two of the redevelopment of Waterside Shopping Centre, Lincoln. The redevelopment of the 120,000 sq ft centre has already attracted major UK fashion brands Next and H&M, reinforcing its position as the regionally dominant fashion destination.
The launch of the £9 million redevelopment's second phase comes as a new identity is unveiled for the centre. The creation of a contemporary new brand and launch of a modern responsive website reflects Capital & Regional's vision for the centre which will be modern and stylish, meeting both shoppers' and retailers' requirements.
Phase one of the project saw New Look enlarge and reconfigure its store, taking it from approximately 12,000 sq ft to circa 14,000 sq ft. A newly relocated food offering has also been unveiled and two new escalators installed, connecting the centre's High Street level with the Waterside level.
Phase two of the development will see the creation of two double height Major Sized Units (MSU's) units over the centre's main two trading levels. This will provide space for H&M and Next, which have taken 15,000 sq ft and 22,000 sq ft respectively, creating H&M's flagship store in Lincoln.
Andy Haughey, Retail Asset Manager for Capital & Regional, commented: "Since purchasing Waterside Shopping Centre in 2011, our focus has been on consolidating the centre's fashion and lifestyle offer and early lettings to Apple franchisee, Stormfront, and Office Shoes helped us to do this.
"The main thrust of activity however, has been the delivery of the redevelopment which has helped us to secure brands such as H&M which hadn't previously been able to secure the space it needs in
Lincoln. Supporting this is our fresh new brand and website which has allowed us to ensure Waterside Shopping Centre remains relevant and modern. We are now focused on letting the remaining three units available."
Tushingham Moore is the letting agent on the Waterside Shopping Centre.