Work starts on Charter Walk improvements
LONDON-based asset manager Addington Capital has begun work on the redevelopment of Burnley’s Charter Walk Shopping Centre.
The £3m improvements will upgrade the Market Square area to double the size of the River Island store to 11,000 sq ft, and reconfigure the eastern side. This will include the removal of first floor walkways and the creation of three new units.
Addington expects the enlarged shopping centre to create 50 jobs.
Partner Alex Wagstaff said: “The new stores will be available from the Spring of 2014 and we are in advanced negotiations with national multiple retailers for the remaining units.”
River Island has agreed a 10-year lease for the new unit. JD Sports has an 8,000 sq ft unit and Next occupies 20,000 sq ft. The centre’s occupancy rate stands at 98%.
The centre’s general manager Chris Gribben said: “This investment made by the owners to deliver retail floorspace suitable for the modern retailer requirements, and the commitment of JD Sports, Next and now River Island in up-sizing their stores, demonstrates true commitment and confidence in the future of the town.”
Tushingham Moore and Keenan & Co are the retained letting agents.
