The Hercules Unit Trust has signed leases with WHSmith and Marks & Spencer's Simply Food at the Borehamwood Shopping Park in Hertfordshire.
Hercules has secured planning permission to build a 560 sq m unit for WHSmith, and agreed a 15-year lease at a rent of£248 per sq m. In addition, Marks & Spencer is taking 600 sq m for its Simply Food format.
Work will also incorporate the construction of two additional kiosks, widening and improving the pedestrian link to the high street, and upgrading the frontages on all existing retail units. WHSmith and Marks & Spencer join fashion retailer Next, Argos and Sports Soccer, which opened on the 18,580 sq m open A1 shopping park last year.
Wilkinson Williams and Harvey Spack Field acted for Hercules. Blair Kirkman represented Marks & Spencer.
This will be one of the first Simply Food outlets to trade from a retail park. Marks & Spencer plans a further 150 stores over the next three years.