Transactions - SEPTEMBER 14, 2017

British Land receives £300m Meadowhall Leisure Hall planning committee approval

by Released

Meadowhall has received a resolution to grant planning consent for a £300 million ($402 million) extension that will transform the center’s leisure offering for its 24 million annual visitors. Councillors unanimously voted in favor of the 330,000 square-foot development.

The extension will integrate with the front of the existing center featuring dining and entertaining options, a new cinema, café court, gym, open-air terrace and space for leisure, event and community use.

The Leisure Hall will follow a £60 million ($80 million) refurbishment that is transforming the look and feel of the existing centre. This work will be completed during the autumn, ahead of the peak Christmas trading period, and has directly benefited the local economy with 70 percent of the work commissioned from companies within 25 miles of the center.

In anticipation of increasing customer interest in Meadowhall as a result of this comprehensive refurbishment, 40 retailers have invested more than £34 million in redesigning and refitting their existing stores to fit the new contemporary feel. These include All Saints, Hollister, House of Fraser and Hugo Boss with a further 30 currently underway. In the 12 months to June 2017, all 61 occupiers with leases due to expire renewed their tenancies and eight of these retailers increased the size of their space within the centre in advance of the refurbishment’s completion.

30 new brands have also signed at Meadowhall over the last 18 months, with Flannels, Tag Heuer, Nespresso, Neal’s Yard and Godiva all adding to the centre’s premium offer.

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