HUT invests £75m in shopping park extensions

Published: June 2nd, 2014

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Hercules Unit Trust (HUT), a specialist retail park fund, managed by Schroder’s and advised by British Land, has stated that construction has begun on four schemes in its portfolio.

The extensions will cost around £75m and create in excess of one thousand new local retail jobs, and temporary construction jobs. The Glasgow Fort retail extension consists of an 80000ft² M&S anchor store and an additional 32250ft² for retail, food and beverage.

Deepdale Shopping Park in Preston’s £14m extension will provide 44897ft² of retail space which is already fully let, along with 28658ft² for ancillary use. The tenants include Sofaworks and Wren Kitchens.

Broughton Shopping Park’s £12.5m extension will include a Cineworld IMAX cinema, and five family restaurants, including Frankie & Benny’s and PizzaExpress.

The £13m Fort Kinnaird extension will include a seven screen Odeon cinema, with seven restaurants, including TGI Friday’s and Nando’s.

The extension in Preston is due to be completed this year, whilst the others are set for completion during spring 2015.