Lend Lease Starts in Norwich with Pre-lets in Place

LONDON-Lend Lease has started construction work on Chapelfield, its 600,000-sf shopping mall in Norwich, Norfolk. With three years until opening, it is already over 60% let with more than 30 units either signed or under offer.

Chapelfield will be built on the site of the former Nestlé chocolate factory, and it will be anchored by a 140,000-sf House of Fraser department store. The project also includes ten large stores and 80 shops, alongside residential and leisure development. Ten of the 15 catering outlets and restaurants are already under offer. Retailers already signed up include H&M Hennes; Mango; Sports Soccer and JD Sports.

Lend Lease has already agreed to sell the centre on completion in Autumn 2005To Capital Shopping Centres in a £275 million ($435 million) deal. Keith Stone, Lend Lease Retail Director, says: “Norwich is one of the fastest growing cities in the UK and the retail community is now recognising this. There is a definite lack of quality retail stock in the major centres and cities around the UK and Chapelfield is benefiting from this.”