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Redevelopment work to start at Burnley's Charter Walk
3:00pm Saturday 10th August 2013 in News
THE £3million redevelopment of Burnley Charter Walk Shopping Centre starts on Monday.
The overhaul will see stores expanded and the eastern side of Market Square torn down to create new multii-storey units.
London-based asset managers Addington Capital hope to have the work completed by Easter next year.
Bosses said that ‘nationally-known retailers’ were ready to move in next year and that around 50 new jobs would be created.
Burnley Council’s chief executive, Steve Rumbelow, said the growth was ‘a vote of confidence’ in the town.
Just two per cent of Charter Walk’s shops are empty, compared with around 12.5 per cent nationally.
Alex Wagstaff, a partner at Addington Capital LLP, said: “The new stores will be available from the Spring of 2014 and we are in advanced negotiations with national multiple retailers for the remaining units.”
The changes will see fashion store River Island, which has signed a ten-year lease, double in size to 11,300 sq ft.
It will temporarily relocate from The Mall to 12-14 Market Square during the redevelopment.
JD Sports and Next have already increased their floor space in the past yearm while WH Smith and Superdrug have also relocate in the past few months.
Councillor Julie Cooper, leader of Burnley Council Leader, said: “Charter Walk is thriving, with occupancy levels close to 100 per cent. “Retailers want to come here. The owners of Charter Walk know that and are investing £3m to make the shopping experience even better for the people of Burnley and further afield.
“This is yet more good news for a town which is really going places”.
Mr Rumbelow said: “This is another vote of confidence in Burnley and shows that businesses know this is a great place to invest. That’s not a coincidence.
“These major fashion chains know that our two new university campuses - soon to be three when the University Technical College opens in September - mean that Burnley is getting younger.”
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