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LONDON-Rockcliffe Developments and Deutsche Property Asset Management have unveiled plans for a £20 million ($33 million) regeneration plan for Erith town centre, in South-East London. The joint venture will more than double the size of the existing1960s shopping centre to 150,000 sf.

On completion, the mall–to be renamed the Riverside shopping centre–will comprises 44 units, 18 of which will be available to let. Six are already let or under offer with Matalan taking 40,000 sf and Wilkinson 28,000 sf. Joint letting agents Lambert Smith Hampton and Add Retail Property Consulting are quoting rents around £40 ($53) zone A.

The scheme will also include 44 residential units, with 25 percent of the development affordable housing. Bellway Homes, in conjunction with Tower Homes Ltd, have been selected as the residential developers. Work will commence on the site in autumn, with completion in autumn 2004.

LSH Director, Paul Cawood, said: “This is a major regeneration scheme for Erith, which will transform the vitality of the town centre. The pre-lettings to Matalan and Wilkinson have generated strong interest from other retailers prior to the marketing campaign kicking off.”

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