Derwent Estates, acting on behalf of the Albert Gubay Charitable Foundation, has secured planning permission to develop a further 70,000 sq ft of retail and leisure space at Liverpool Shopping Park, with 90% of it already pre-let.
The £11m expansion will see Hollywood Bowl’s unit reconfigured and completely refurbished to create an enhanced new 35,000 sq ft bowling and leisure facility with a new 20-year lease agreed.
Tesla is set to open a new 20,000 sq ft car showroom having also agreed a 20-year lease.
Two new drive-thrus will be operated by Five Guys and Costa Coffee having both taken 15-year leases.
These high profile operators will join the likes of M&S Food Hall, H&M, Nike, Greggs, Next, Smyths Toys, JD Sports, TK Maxx and, most recently, PureGym.
James Maule-Ffinch, Senior Asset Manager at Derwent Estates, said: “The prominent location of Liverpool Shopping Park, fronting Edge Lane, means that it has immediate appeal to retail and leisure operators. This next phase in the park’s development will increase it in size to 235,000 sq ft making it one of the region’s largest and most popular out of town retail and leisure destinations.”
He added: “The fact that we have managed to pre-let the majority of this latest phase so quickly is testament not only to the appeal of the Shopping Park but also the high quality of the units.
“We recently secured a 4,000 sq ft letting to Schuh on a 10-year lease proving that high profile occupiers continue to flock to the park.
“Only two units of 3,000 sq ft remain and we are already in advanced negotiations with potential operators for both, which we hope to announce soon. We plan to appoint a contractor in the coming weeks with a view to starting on site later in the summer.”
ATP Planning is the planning consultant advising Derwent Estates with RGP the architect and Drees &Sommer (UK Ltd) the project managers. McMullen Real Estate and CSP are the retained letting agents for the scheme.
Derwent Estates continues to be very active in this gateway to Liverpool city centre location having also just agreed a 20-year lease with Howdens for the former American Golf building situated further along Edge Lane. This prominent building will be a new flagship store for the trade kitchen supplier.