Investments / The Crown Estate complete the purchase of Rushden Lakes Shopping Park
The Crown Estate have completed the purchase of Rushden Lakes Shopping Park, following LXB’s satisfaction of the pre-conditions.
Phase 1 of the park totals 230,000 sq ft and will have an end value of £147 million. It has been prelet to tenants which include; M&S, House of Fraser, Primark, H&M, River Island, New Look, Fat Face, Schuh, Moss Bros, Holland & Barrett, Hobbs, Jigsaw, Phase Eight, Joules, Paperchase, Clarks and L’Occitane.
Phase 2 of the park will comprise a cinema-anchored leisure park.
Rushden Lakes will set a new standard for UK shopping parks in terms of its design and construction, and has attracted retailers who have never traded out of town before.
Construction of the scheme is currently underway, with practical completion scheduled for March 2017.
Price: £147 million
Type: Investment Funding Purchase