Cheshire West & Chester has secured its fifth letting at its 225,000 sq ft Barons Quay retail scheme in Northwich after H&M confirmed its long-rumoured 21,500 sq ft unit at the site.
H&M is understood to be taking the unit underneath the development’s multi-storey car park, which has been listed as ‘exchanged with a major fashion brand’ on Barons Quay’s website for some time. Although no opening date has been set, the store is expected to be open in time for Christmas trading.
The fashion retailer will be the fifth tenant at the scheme, alongside Asda, Marks & Spencer, Wildwood, and Odeon Cinemas. H&M’s deal will take Barons Quay to 56% occupied, but there are still a significant number of units available.
A further 13 units are listed as under offer, with 14 units still vacant ranging between 15,000 sq ft and 1,500 sq ft in size.
As of the end of 2016, Cheshire West & Chester Council had spent £54.4m on the project, with £62m borrowed to finance it. The overall projected spend on the scheme out of council coffers is expected to be £71m.
The retail agents on the scheme are Brasier Freeth alongside GCW, the latter joining in April to attract more tenants to the development.
Cllr Brian Clarke, cabinet member for economic development and infrastructure, said: “The commitment to opening a store of this size in Northwich is testament to the belief that we have always held that the town is on the up.
“Our investment in Barons Quay was always a long-term commitment and we’re determined that Northwich establishes itself as a go-to shopping and leisure destination for local and wider Cheshire residents.
“It’s part of our commitment to regeneration in the town. So much has been going on behind the scenes to make sure that Northwich town centre and Barons Quay are supporting local residents to thrive and today’s news goes a long way towards our ultimate goals.
“This is the first of a number of good news stories I expect we will be able to share over the coming weeks. We remain absolutely confident that as Barons Quay becomes established and the town grows, the benefits for local people will be unquestionable.”