Department store signs up to Fosse Park

DEBENHAMS has signed terms on a new store at the planned Castle Acres shopping park, next to Fosse Park.

The high street department store said it hopes the new shop will be open to business by late 2018.

It will join a number of big brands, including TK Maxx and a new three-storey Next, which will open on the new £150 million development on the site of the existing 12.5 acre Everards brewery.

Robert Hadfield, director of group property at Debenhams, said: “We are really keen to be part of the Castle Acres success story.

“All being well, we hope to be open and trading by Christmas 2018.

“This is a great opportunity for us to offer Debenhams’ fantastic range of own brand, international brands and concessions to even more people in the local area.”

Hannah Milne, director of the Crown Estate’s regional portfolio – a co-owner of Fosse Park – said: “Debenhams will be an excellent quality anchor for the expansion scheme and a great addition to the range of stores on offer to our shoppers at Fosse Park.”

Fosse Park, Everards and Enderby-headquartered Next gained planning permission for the new shopping park last month.

It will have 288,000 sq ft of floor space for a range of shops, restaurants and cafes.

Occupiers already confirmed include a 90,000 sq ft Next store and a 34,000 sq ft space for TK Maxx.

Planning approval came at the end of 18 months of complex negotiations between the developers, planners and concerned parties such as Leicester City Council.

Castle Acres could create up to 1,000 full-time jobs.

The expansion will see Everards relocate to a new development, to be called Everards Meadows, on the other side of Soar Valley Way, next to the county police headquarters. Planning permission has already been given for those plans.

The brewer will use another brewery to make its beers, while its new premises and offices are built.

As part of the planning conditions Next and Debenhams have both had to agree to keep their existing stores in Highcross open for at least five years.

The developers have also had to agree to make a £2.5 million contribution to Leicester City Council for city centre improvements, including £900,000 for Church Gate and £1.6 million for Belgrave Gate and the Haymarket shopping centre and give £1 million to County Hall to promote buses, cycling and walking and to manage nearby parking.

A further £1.5 million contribution has to be made to County Hall for highways improvements, and another £180,000 to support city jobs.

A statement from the developers said the new park will generate over £29 million for the local economy annually, and business rates revenue of around £7.9 million a year, with £2.3 million being retained locally.

The Everards Meadows development will employ more than 300 people when complete, and include a new brewery as well as offices, tasting rooms, a pub, restaurant, new retail shop and cycling centre.

Detailed plans for the scheme were submitted to Blaby District Council in November 2015 and planning permission was granted in April.