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Lothbury Completes £6m Extension to Clarendon Shopping Centre

Lothbury Investment Management (LIM) has just completed a £6m project to extend the 158,000 sq ft (14,679 sq m) Clarendon Shopping Centre in Oxford.

PRLog - Feb. 19, 2014 - The new space was pre let to fashion retailer, H&M, Hennes & Mauritz AB (H&M), who will occupy 38,018 sq ft (3,532 sq m) over three storeys on a 10 year lease. This will be H&M’s first store in Oxford.

The extension to the scheme, which was centred on the demolition of three former units, and the building of 50,376 sq ft (4,680 sq m) of new accommodation, has increased the space available by 12,465 sq ft (1,158 sq m). As part of the new building, existing tenant Currys/PC World, moved into new accommodation in the 8,013 sq ft (744 sq m) unit 5 from their previous location in units 15/16, which were incorporated into the medium sized unit development.

Two further units, 17 and 18, comprising 5,796 sq ft (538 sq m), have been refurbished and re-configured and are currently being marketed.

Lothbury Investment Management Director Adam Smith said: “The Clarendon Centre is part of an actively managed property portfolio, which generates enhanced return for investors through asset improvement.

“Clarendon Centre remains Oxford’s premier destination for fashion retailing and H&M is joining existing tenants who include Gap, Zara and French Connection.  The major improvements to the Centre will provide enhanced rental opportunities and improved returns for investors as we continue to attract even more top high street names.”

The main contractor for the works was Shepherd Construction. The H&M store opens to the public 6th March 2014 at 11am.

Peter Treglown

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Source:FOUR Agency
Location:United Kingdom
Industry:Business, Real Estate
Tags:Lothbury Investment Management, Clarendon Shopping Centre, oxford
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