July 4, 2011
US fashion giant Forever 21 is to open a new flagship store at Capital Shopping Centres’ Lakeside as part of a major asset management initiative that will also see the creation of new flagship stores for BHS and TopShop/TopMan.
Forever 21 will take a 35,000 sq ft unit. The three floor store has been specially created for the retailer by CSC through combining the existing Top Shop/Top Man store with a new ‘roof box’ and a mezzanine level The new unit will be handed over in August next year and is scheduled to open for Christmas 2013.
Clinton Cards will relocate from its existing shop to a new unit and its former store, and the entire upper level of BHS, will be reconfigured to create a 31,500 sq ft flagship store for Top Shop/Top Man, opening in December 2011.
A fully refitted BHS will reopen on the lower level in September 2011 bringing the new concept BHS offer to Lakeside.
Caroline Kirby, property director CSC London said: “With Lakeside this year celebrating its 21st birthday the centre continues to offer an innovative and exciting retail offer. CSC will be investing £8 million in this redevelopment which is in line with our strategy of investing in our centres through major refurbishment to deliver compelling destinations for shoppers.”
She continued: “To create not one, but three major new fashion flagships as well as an important new store for Clintons Cards, demonstrates the continued success and attractiveness of Lakeside to both retail partners and customers.”
Larry Meyer, executive vice president for Forever 21, said: “As we continue with our UK and European expansion our strategy means it is vital that we have the best stores in key shopping centres and we are grateful that CSC has helped us in our aims by investing in a redevelopment that helps us to achieve that goal.”
Chris Harris, property director of Arcadia Group said: “Lakeside has been a consistently high performer for TopShop/TopMan and we are excited to be opening a new flagship store at the centre while the reconfiguration of BHS also allows us to bring our very latest concept to Lakeside.”
Lakeside was represented by Lunson Mitchenall and CWM. Forever 21 was represented by Harper Dennis Hobbs while BHS and TopShop/TopMan acted on their own behalf. Clinton Cards was represented by Brasier Freeth.