WORK ON FORMER BEALES SITE TO START IN TWO WEEKS

August 9, 2017

A redevelopment of the Vancouver Shopping Centre in King’s Lynn is due to start in two weeks thanks to an innovative deal being sealed between LAP and Oaktree Capital and the Borough Council of King’s Lynn and West Norfolk.

The local authority’s progressive partnership approach to the regeneration of King’s Lynn town centre has seen it agree a 250-year renegotiated lease on the empty store, formerly Beales Department Store. In releasing the space for redevelopment, the council has cleared the way for the delivery of a 20,000 sq ft anchor store for H&M, together with four other retail units.

Letting agent GCW was appointed on the Vancouver Quarter shopping Centre following its purchase by a joint venture between LAP and US investment management firm Oaktree Capital. The 385,000 sq ft centre, anchored by Sainsbury’s, Wilko and TK Maxx, already attracts a footfall of 165,000 visitors a week and following the closure of Beales, the owner identified potential to further boost the open-air scheme’s appeal to modern retailers.

The redevelopment, which is due to commence in two weeks, will not only attract new retailers, but improve the general environment and streetscape along New Conduit Street. It will also form a central piece in the regeneration of King’s Lynn town centre and the council’s place-making agenda.

GCW’s David Gooch said: “This deal has come about thanks to a dynamic public/private sector partnership and confirms what can be achieved through innovative collaboration. The redevelopment will greatly enhance Vancouver Quarter’s tenant line up and its appeal as a shopping destination.”

Borough Council of King’s Lynn and West Norfolk Portfolio Holder for Corporate Projects and Assets, Alistair Beales, said: “We are excited to be supporting the development of the Vancouver Quarter. It will be the catalyst to regenerate this part of the town centre building on our investments in the bus station, car parks and heritage assets. An improved shopping offer will make a real difference to King’s Lynn in terms of its vibrancy and offering visitors and local residents even more reasons to visit regularly.” 

The main contractor is Chalcroft Construction

@PORTERFIELDPR

LATEST TWEETS

RT @matthyland09: ⁦@HGRetailLondon⁩ ⁦@NashBondLondon⁩ #Retail #London https://t.co/Kp1XxEfLz7

@ PORTERFIELDPR

@PORTERFIELDPR

LATEST TWEETS

Apparently our birds of prey often struggle with this hot weather. Just found this mite in our front garden. https://t.co/zEsbGHVLqZ

@ PORTERFIELDPR

@PORTERFIELDPR

LATEST TWEETS

The missus is in there somewhere. https://t.co/ue6Cz6iSN2

@ PORTERFIELDPR

@PORTERFIELDPR

LATEST TWEETS

RT @banno79: Crown Estate’s 46,000 sq ft office development in St James’s tops out https://t.co/bUdNxtE2Bi via @bdaily excited to be invol…

@ PORTERFIELDPR

Latest News

NASH BOND AND ORME RETAIL TO LEAD RETAIL LEASING FOR ISLINGTON SQUARE SCHEME

July 20, 2018 - 15:38

Cain International , the diversified real estate investment company, has appointed Nash Bond as joint letting agents with Orme Retail for the leasing of the 170,000 sq ft of retail and leisure space a[...]

+ Read More

SALMON HARVESTER SELLS AXIOM INDUSTRIAL ESTATE TO COLUMBIA THREADNEEDLE INVESTMENTS

July 20, 2018 - 15:34

Salmon Harvester Properties (SHP) has sold the first phase of its development known as Axiom on Orbital Park in Ashford, Kent, to clients of Columbia Threadneedle Investments. The transaction was conc[...]

+ Read More

EUROPA CAPITAL AND SOVEREIGN CENTROS SIGN QUARTET OF LETTINGS AT CORBY

July 18, 2018 - 10:04

Europa Capital in partnership with Sovereign Centros has signed leases with a quartet of new retailers at Corby Town Shopping & Willow Place. Jeweller Warren James, Eurochange, Electromist and ex[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

2nd Floor, 20 Berkeley Square House London W1J 6BD