Overall, the net retail space will increase by 15% to 32,250 sfand 13,000 sf of offices will also be created as part of theredevelopment scheme, which Austin Reed plans to lease out fromSummer 2003.

Austin Reed's Chief Executive Roger Jennings said theimprovements could drive a 40% increase in turnover from the store.He said: 'This redevelopment scheme for Austin Reed's globalflagship store in Regent Street reflects our confidence in thegroup's core brand and also in the sales and profit potential thatthis landmark site holds. These plans strengthen both Austin Reed'sbrand proposition and also its future prospects for growth in theUK and internationally.'

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