Universities Superannuation Scheme Ltd (USS) - Retail Development - Telford Shopping Centre, Shropshire

Date: 16 Oct 2003

Universities Superannuation Scheme Ltd (USS) is delighted to announce today's (Thursday 16th October) launch of the New Row shopping mall at Telford Shopping Centre. Following the completion of the 150,000 sq ft extension, Telford Shopping Centre now provides over 1 million sq ft of retail space and over 160 stores.

The New Row extension comprises 15 new units and includes a flagship 80,000 sq ft Beatties Department Store, plus retailers Zara, Faith, River Island, Warner Bros, Republic, Pilot, Diffusion, Bank and Smart Ideas. Existing major retailers at Telford Shopping Centre include Debenhams, BHS, Marks & Spencer, Next, Boots, Gap, Virgin, Asda and WH Smith.

Over 150 guests from the property and retail world travelled to Telford on the Orient Express to celebrate the opening of the New Row extension.

Since USS acquired the Telford Shopping centre in 1990 over 70 new stores have joined the scheme. Several phases of refurbishment have extended the Centre and transformed the internal environment. By working in partnership with tenants, USS has been able to relocate a number of retailers such as Next and Boots to larger premises to meet expanding trade.

Over 14 million customers visit the Centre every year. Telford has an exceptional catchment area with over 1 million people living within a 45-minute drive and is easily accessible form the M54 motorway. Shoppers now benefit from more than 4,500 car parking spaces and the new Cherry Pink car park is the first UK purpose built multi-storey car park to feature echelon parking layouts.

Graham Burnett, Fund Manager Retail Property at USS, comments, " We are pleased to launch the New Row extension with such an impressive line up of tenants. We are committed to the long-term development of Telford Shopping Centre and aim to further strengthen our young fashion line-up to reflect increasing retailer and customer demands."

Joint letting agents for Telford Shopping Centre are DTZ and Blair Kirkman. DTZ are managing agents and Jones Lang LaSalle act as Investment Advisors to USS.

Beatties - New Row, Telford

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