New retail and leisure accommodation. UK Commercial Property Trust (managed by Ignis Real Estate) purchased The Charles Darwin, Pride Hill and Riverside centres in March 2010 for approximately £61m. The three centres total 470,000 sq ft, which accounts for the majority of the prime retail area in the town.
SPG take a strategic role in the asset management of the centres and provide development and project management services for the proposed redevelopment of the Riverside centre which will incorporate a new full line department store and approximately 350,000 sq ft of new retail accommodation.
Planning consent has been granted and contracts have been exchanged with Debenhams to take the 95,000 sqft anchor store.
Capital Value c.£210M