Lion Walk is a prime fashion destination and has a strong mix of tenants, including Marks & Spencer, Boots, WH Smith, New Look, Topshop/Topman and River Island. Primark has recently opened a larger 60,000 sq ft store in the former BHS. Elsewhere, Colchester’s retail offer has been boosted by the arrival of a 110,000 sq ft Fenwick on High Street.
“We have a long history acting for the owners of Lion Walk and working in Colchester generally so we are particularly pleased to add the centre to our list of projects. The town is forecast for above average population growth and we anticipate demand from retailers to remain strong” says GCW director Duncan Kite.
Lion Walk is 205,000 sq ft and serves a strong, growing catchment population of more than 126,000 people and more than 4.5 million tourists a year.
GCW was first involved with Lion Walk in 1999. It secured one of largest shopping centre investments transactions in the UK in 2008 with its sale for £69 million to LaSalle Investment Management. It then acted as letting agent for LaSalle until 2012. GCW also helped LaSalle to agree a long-term deal with Colchester Borough Council, regearing the headlease and increasing the term from 92 to 150 years in exchange for £425,000 plus a commitment to refurbish the centre.