London & Associated Properties (LAP) has been granted planning consent to extend its King Edward Court Shopping Centre at Windsor, Berkshire, by 60,000 sq ft (5,575 sq m).
The expansion will raise the mall's floorspace to more than 215,000 sq ft (19,975 sq m). H&M has signed up to anchor the extension.
The developer bought the scheme in December 2002 for£45.3 million, in a joint venture with Bank of Scotland. It has spent the interim producing plans to redevelop the existing outdated supermarket and an office tower into more retail space and a 113-bed hotel for Travelodge.
Now that the planning hurdle has been cleared, work will begin early next year.
The retail element of the scheme will consist of four shop units and a cafe/bar totalling 60,000 sq ft (5,575 sq m), as well as a 40,000 sq ft (3,715 sq m) supermarket.
H&M has signed a pre-letting on a 20,000 sq ft (1,860 sq m) unit, taking a 15-year lease at an initial rent of£395,000 a year. The supermarket, cafe/bar and two of the other units are also under offer.
LAP chief executive John Heller said: 'At the time of our purchase of the centre, we were conscious of the pent-up demand for larger shops in Windsor that could not be satisfied by the existing available space.
'The quality retailers we have under offer will ensure Windsor can compete with its bigger neighbours to attract shoppers for years to come.'
Gooch Cunliffe Whale is advising LAP.
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