Henderson Global Investors and Invista are to refurbish and extend Hull's Prices Quay shopping centre on the English east coast. Kingston-upon-Hull City Council has granted planning permission for the UK companies to increase the current floor space by about 46,451 m[sup]2[/sup].

Henderson Global Investors and Invista are to refurbish and extend Hull's Prices Quay shopping centre on the English east coast. Kingston-upon-Hull City Council has granted planning permission for the UK companies to increase the current floor space by about 46,451 m2.

Princes Quay is located in the centre of the historic city of Hull and currently provides around 100 stores on three decks. The new open-air scheme will reinstate streets and squares that existed in the area prior to the Second Worlds War and will add some 67,354 m2 of retail space.

In addition to two new department stores, one of which will be the main anchor tenants, the centre will feature approximately 60 new stores, a new 140-room 4-star hotel, a 10-screen cinema on the top deck, office and residential units. The company estimates that work will begin in 2008, with opening scheduled for 2011.

Lawrence Hutchings, Henderson's director of property and shopping centres in Europe, told Shopping Centre magazine 'these proposals will help Hull to reclaim its position as a major regional shopping destination'.

Founded in 1934 Henderson is an investment manager, providing a wide range of investment products and services in Asia, Europe and North America. Henderson manages over EUR 94 bn as at June 30, 2006.

Invista REIM was formed in September 2006, following the de-merger and listing of the property fund management division of Insight Investment, which itself is the fund management business of the HBOS Group. Invista REIM is one of the UK's largest property fund managers with a total of 15 funds and EUR 12.6 bn in assets under management as at August 31, 2006.