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Shires is 57pc pre-let two years out

Published:  07 March, 2006

Shires West, Hammerson and Hermes' 654,840-sq ft extension to the Shires centre in Leicester, is now more than 50 per cent pre-let following Next's decision to take a 48,800-sq ft three-level flagship store. At the same time New Look has taken 23,244 sq ft and River Island 12,744 sq ft. Both will trade from two-level stores on the upper mall.

Sheila King, Hammerson's director of UK leasing, said: "The decision by these three clothing retailers to bring their new, large-format concepts to Leicester endorses the city's future status as a regional fashion destination. Together with our earlier lettings to John Lewis and National Amusements, which will be opening Leicester's first city centre multiplex cinema, these latest deals represent a take-up of 57 per cent of available space, two years ahead of opening."

When completed in 2008 the entire development will provide over 1.076 million sq ft of retail space including John Lewis, House of Fraser, and Debenhams branches. In addition there will be 65,000 sq ft of new catering and leisure amenities, a 75,400 sq ft multiplex cinema and more than 3,000 parking spaces.

Joint letting agents are Cushman & Wakefield and Donaldsons.