aspireDM has been appointed to act on behalf of BlackRock Real Estate to secure an agreement to lease which will see John Lewis open its first department store in Cheltenham, South West England. Cheltenham’s Beechwood shopping centre is to be converted into a new Â£30m John Lewis department store.
The existing shopping centre frontage is set to be redesigned as part of the scheme while the existing car park will be remodelled. The new development is expected to create up to 250 local jobs. Work on the project is due to start in Spring 2016.
John Benham, Vice President of Real Estate at Blackrock commented: â€œThis development improves Cheltenham as a shopping destination, increasing footfall within the town centre and encouraging other retailers to the area. At the same time, this ensures the long term viability of the site, creating long-term returns for our investors by improving the building and securing a high quality brand as a tenant.â€