Barnet Council has approved Hunter Real Estate Investment Managers (Hunter) £7m investment plan for The Spires Shopping Centre in Barnet. Following the approval, Hunter has announced international fashion brand, H&M, as the occupier for the new 24,540-sq ft anchor unit.
The approved plans, designed by Leslie Jones Architecture and advised on by Montagu Evans, include three new restaurants and contemporary public realm improvements both inside and outside of the 90,000-sq ft centre, as well as the new H&M unit.
Fund manager at Hunter, Andrew Moffat, commented: “Barnet is one of London’s largest and fastest growing boroughs, as well as the most affluent, but to date the high street has lacked a suitable fashion and restaurant offer. Our plans build on recent refurbishment to deliver an offer suitable for the local catchment, which will help increase footfall and create an evening economy for Barnet’s high street.”
Richard Flood, letting agent at KLM Retail, which acted for Hunter, added: "We are already seeing good interest from quality brands that are recognising the step change that the refurbishment will herald. There is no doubt that these improvements will enable The Spires to mirror the retail offer present in so many affluent M25 towns.”
Hunter Real Estate Investment Managers purchased The Spires Shopping Centre in July 2015 on behalf of a North American Institution and these latest proposals build on work already completed at The Spires, including the refurbishment of the main high street entrance which is home to new tenants Carluccio’s and Anytime Fitness.