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Harlow Council welcome news on Marks and Spencers site

Politics / Thu 15th Oct 2015 at 01:22pm

HARLOW Council has welcomed the news that Addington Capital, the investment and asset management company, has acquired the former M&S unit at the front of the Harvey Centre in order to extensively refurbish and redevelop into eight modern retail units.

The building consists of circa 60,000 sq ft of floorspace over three levels and was acquired for £2.9 million. Addington plans to completely refurbish the space to provide a variety of units from 1,500 sq ft and up to provide modern retail floorspace. The new units are due to be ready for occupation in Spring 2016.

This is the latest development at the Harvey Centre, which Addington acquired in a joint venture in March 2011.

The new £10 million leisure development at the shopping centre is currently being constructed on site and is due to open in Autumn 2016 with pre-lets secured to Cineworld, Prezzo, Tinseltown and Real China.

Commenting on the deal Alex Wagstaff, Partner at Addington Capital said:

“We are delighted with what we have been able to do so far at Harlow and this acquisition of the former M&S unit at the entrance to the scheme will enable us to invest in a prominent town centre property. We have had a fantastic response so far from national operators with over 70% of the floorspace already under offer to national operators. 2016 plans to be an exciting year for the shopping centre with the opening of these new retail units and the launch of the new leisure development in Autumn 2016.’’
Councillor Tony Durcan, Portofolio Holder for Regeneration and Enterprise, commented:

“We are delighted that this prominent town centre building has been acquired by the owners of the Harvey Centre and welcome their investment. The Council is committed to improving the vitality of Harlow Town Centre and this news, together with the opening of the new leisure scheme next year will have a huge, positive impact on the town centre.”

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