Hartnell Taylor Cook - Mixed-Use Development - Hemel Hempstead, Riverside
Date: 11 Dec 2003
Crest Nicholson’s 35,780 sq m (385,000 sq ft), £65 million mixed-use extension to Hemel Hempstead town centre – Riverside – has just reached the 70% prelet mark. Work started on site this week, with the centre expected to open in time for Christmas 2005.
The 70% prelet has just been achieved with new lettings to operators including:
Next – which is to take a 1,400 sq m (15,000 sq ft) unit on a 15 year lease for one of its new, large format stores.
HMV – which is to take a 650 sq m (7,000 sq ft) unit on a 15 year lease at £180,000 per annum.
Starbucks – is to take a 177 sq m (1,915 sq ft) unit on a 15 year lease at £70,000 per annum.
Scottish & Newcastle – which is to operate a 110-bed Premier Lodge hotel.
Crest Nicholson signed up Debenhams as Hemel Hempstead’s first department store and Riverside’s anchor tenant in July 2002. The retailer has taken an 8,000 sq m (86,000 sq ft) unit at the heart of the scheme.
Riverside when completed will extend to 29,729 sq m (320,000 sq ft) of integrated retail, leisure and hotel accommodation, plus 355 car parking spaces. The development is situated on the former Plough site in Hemel town centre and will form an extension to The Marlowes, connecting with the Marlowes Shopping Centre and creating a prime pitch in the town. The project will also include approximately 100 one and two-bedroom apartments.
Edward Skeates of Crest Nicholson said:
“These new names, along with Debenhams, are a tremendous boost to the town and really set the tone for the remaining 80,000 sq ft of retail and leisure space still available. The scheme has let remarkably quickly – an endorsement of the strength of Hemel’s catchment and the attractiveness of its design.
“Through Riverside we can provide a truly urban mixed use development that includes the sort of accommodation and environment increasingly required by operators in a scheme that integrates with the existing high street and considerably extends the town’s retail offer. The development also includes new town centre residential accommodation which is right in line with government policy of encouraging town centres as places to live in.”
Hartnell Taylor Cook and Donaldsons represented Crest Nicholson on all lettings. Next and Scottish & Newcastle represented themselves, Jackson Criss acted for HMV and Montagu Evans acted for Starbucks. Riverside was designed by Bernard Engle Architects and Planners.
Mixed-use extension to Hemel Hempstead town centre – Riverside
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