Hercules Unit Trust (HUT), the UK specialist retail park fund advised by British Land and managed by Schroders, has launched a £75 mln (€92 mln) extensions programme across its portfolio.
Hercules Unit Trust (HUT), the UK specialist retail park fund advised by British Land and managed by Schroders, has launched a £75 mln (€92 mln) extensions programme across its portfolio.
Work is under way on a 10,400 m2 retail extension at Glasgow Fort, a 6,600 m2 extension at Deepdale Shopping Park in Preston and leisure extensions of 5,100 m2 at Fort Kinnaird in Edinburgh and 55,000 sq ft at Broughton Shopping Park in Chester.
Ben Grose, head of Hercules Unit Trust for British Land, said: 'This £75 mln investment will enable HUT to further broaden the retail and leisure mix and incorporate more food and beverage operators at these four key assets. This will enable us to continue to improve the shopper experience and enhance dwell times.'
The extension at Preston is scheduled for completion this year with Glasgow Fort, Edinburgh and Chester following in spring 2015.