Property News - Erith to undergo regeneration

Rockcliffe Developments and Deutsche Property Asset Management have unveiled plans for a£20 million regeneration plan for Erith town centre, in southeast London. The joint venture will more than double the size of the existing 1960s shopping centre to 150,000 sq ft (13,935 sq m).

On completion, the mall, which will be renamed the Riverside shopping centre, will comprise 44 units, 18 of which will be available to let.

Six are already taken or under offer, with Matalan taking 40,000 sq ft (3,715 sq m) and Wilkinson 28,000 sq ft (2,600 sq m).

Joint letting agents Lambert Smith Hampton (LSH) and Add Retail Property Consulting are quoting rents around£40 Zone A.

Work will commence on the site in the autumn, with completion in autumn 2004.

LSH director Paul Cawood, said: 'This is a major regeneration scheme for Erith, which will transform the vitality of the town centre. The pre-lettings to Matalan and Wilkinson have generated strong interest from other retailers prior to the marketing campaign kicking off.'