X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Xscape, Capital & Regional’s retail and leisure development in Milton Keynes, Buckinghamshire, is now fully let 13 months after completion. Luminar Leisure has agreed to take the remaining 31,000 sf for a night club.

Luminar Leisure has agreed a 25-year lease for the leisure space at a rent of £290,000 ($423,000) per annum. It plans to roll out its latest night club format, known as Oceania, which incorporates seven zones representing the seven continents of the world. Luminar operates 200 night clubs throughout the UK.

The 550,000 sf retail and leisure scheme includes Europe’s biggest ‘real snow’ indoor ski slope, a Cineworld multiplex, City Limits bowling alley and Esporta health & fitness club among its leisure attractions. Since its official opening in August 2000 it has been attracting 75,000 visitors per week.

Andy McGregor, letting agent at FPDSavills said: ‘Xscape is the first of its kind in Europe offering a blend of entertainment and sports with lifestyle brands, bars, cafés and Europe’s biggest indoor ‘real snow’ ski slope. This new concept of leisure and entertainment is proving to be a hugely successful formula which Capital & Regional intends to replicate in Castleford, West Yorkshire and Braehead in Glasgow.’

Xscape was developed by Capital & Regional plc in a joint venture with two funds managed by PRICOA Property Investment Management. FPDSavills and Briant Champion Long are joint letting agents.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.