Monsoon has signed a pre-let agreement with Standard Commercial Property Developments (SCPD) for a flagship site on Old Christchurch Road, Bournemouth.
With funding from Prudential Property Investment Managers, the developer is in the process of redeveloping a former Victorian arcade from 12 small units and two public houses into two large 10,000 sq ft (930 sq m) stores in the heart of the town.
SCPD director Paul Tolley said: 'The redevelopment of the Criterion Arcade is a key milestone to ensure the fut-ure retail prosperity for Bournemouth. The town centre suffers from a serious lack of large modern stores and the development has been specifically designed to suit modern retailers' needs.'
Work on site has already started, with an anticipated completion date of mid-2004. Hammond Phillips and Nettleship Sawyer are letting agents.
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