Fosse Park expansion deal finally struck
The Crown Estate’s plans to extend Leicester’s Fosse Park are taking shape following the acquisition of the neighbouring Castle Acres site. The move will allow The Crown Estate to redevelop the site into a 288,000 sq ft shopping attraction.
The 12.5 acre site was purchased from Everards, a historic family brewer. Next, Debenhams, Clarks and TK Maxx have been already confirmed for the new retail scheme, which will complement the Fosse line-up.
The plans were originally submitted in June 2015, and updated in April 2016 to improve the development’s offering for large format retailers.
Next will take a 90,000 sq ft three-storey space where it will feature an extensive Home and Garden range alongside its fashion offering. Debenhams has confirmed it will open another 90,000 sq ft shop, while TK Maxx will have a 34,000 sq ft unit.
The Crown Estate said the new Castle Acres scheme is already almost 60% pre-let.
The extension builds on a £12.7m investment by the Fosse Partnership to enhance the offer and experience for retailers and customers at the Fosse Park shopping centre. In addition to building new store frontages, the investment was used to create landscaped public spaces and upgrade pedestrian walkways.
Five stores opened at Fosse last year, including Primark, Office, Pandora, Superdrug and JD Sports.
Hannah Milne, Director of Regional Retail at The Crown Estate, said: “Fosse is already one of the best retail centres in the country and Castle Acres will be an outstanding addition which further enhances this popular destination.
Fosse Park benefits from an easily accessible location and is anchored by a 105,000 sq ft M&S store.
Work on the Castle Acres site will start in early 2018.
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