Legal & General reaches major regeneration milestone in Eastbourne
LGIM Real Assets has launched a new £85m retail and leisure extension which forms part of the wider £220m retail- and leisure-led regeneration of the Eastbourne Arndale Centre. At the same time Eastbourne Arndale Centre is being rebranded as The Beacon.
This weekend saw the opening of five new stores: Schuh, New Look, Flying Tiger and Paperchase all opened their doors with Jack Wills also due to open early December, following on from Next, H&M and Fat Face which opened in October. Premier League Football Club Brighton & Hove Albion will also open a pop-up shop in the extension until December 23.
The second phase of the retail and leisure extension will follow in April 2019, when Cineworld, Ask, Nandos, Chiquitos, Frankie & Benny’s and high-end jeweller, Brufords, will open for trade. To date, agreements have been exchanged on over 70% of the total extension floor area.
Michael Barrie, Head of Fund Management at LGIM Real Assets, said: “The new retail and leisure extension will complement the existing centre, which has been successfully trading with the likes of Primark, River Island, Pandora, Arcadia, Boots and Sainsbury’s, with both Wilko’s and Deichmann now also open for trade. The expanded tenant mix and range of uses will only cement The Beacon further as the retail and leisure destination of choice in the local area.”