Redevelopment of Swindon's Parade gets underway
New lettings announced for Swindon’s first major retail development in 10 years
UK Commercial Property Trust (UKCPT) and their Development Partners, Shearer Property Group, have announced the start of demolition and reconstruction of The Parade Shopping Centre in the retail heart of Swindon.
UKCPT, who own this important site, are sending the bulldozers in to demolish the existing Bhs store in order to make way for 80,000 sq ft of prime new retail space.
New retail space:
An artist impression of how it will look
This will comprise a new variety store of 45,000 sq ft for the latest Bhs concept, together with six additional retail units.
The unit on the corner of Bridge Street and The Parade will form a new 10,000 sq ft flagship store for TopShop and another flagship store of 9,000 sq ft has been designed for River Island.
Only four units now remain available to let.
Swindon Borough Council granted planning consent in May 2009 enabling UKCPT and Shearer Property Group to proceed with the project, which will have a value in the region of £25m once completed.
The existing Bhs store will close for trade in mid-January 2010 and relocate temporarily to the former Woolworths store in Regent Street until the new store re-opens in Spring 2011.
Top Shop will open in late 2010. The construction contract has been awarded to John Sisk & Sons Ltd with Shearer Property Group providing the development and project management roles.
"I am pleased that the hard work for all concerned is about to manifest itself in the start of the redevelopment work," commented Robert Boag of Ignis Asset Management, fund managers for UKCPT,
"The creation of modern retail space for Swindon will attract other retailers to the town, which the shoppers in Swindon deserve.
It ensures that the focus of retailing for the town will continue to be The Parade.”