British Land opens Hereford retail development

UK REIT British Land and developer Stanhope have opened Old Market shopping centre in Hereford, the first major retail development in the city for 25 years

The €109 mln scheme was developed by Stanhope and funded by British Land, which now takes ownership of the scheme. The partners claim the development is the most significant to open in the UK this year.

The 29,000 m2 open-air shopping centre, located in the heart of Hereford city centre, is 96% let (by area) and is anchored by the city’s only department store, a three-storey,8,000 m2 full-offer Debenhams.

The scheme also includes including H&M, Next, Fat Face, TK Maxx and Outfit as well as L’Occitane and Clarks. Waitrose has also opened a 2,300 m2 store, the first in Hereford.

Leisure accounts for 21% of the scheme (by area), extending the centre’s trading hours. The line-up includes a six-screen Odeon cinema, the city’s first multi-screen cinema.