Hannah "confident" of Broadmarsh green light19 January 2012
One of the East Midlands' leading property professionals says he is "confident" that Capital Shopping Centres (CSC) - the new owner of the Broadmarsh in Nottingham - will press ahead with its plans to redevelop the site.
Matt Hannah, retail specialist at Innes England, was speaking at the launch of the company's 2011 Market Insite report yesterday.
He said: "Last year was the year of the Broadmarsh, with CSC buying the shopping centre for £73m. CSC is highly regarded retail developer, and has been a real force in Nottingham. I'm confident it will move forward with its plans to redevelop the Broadmarsh once it has completed its due diligence."
The anticipated first phase of the Broadmarsh development, where Apple and Hollister were expected to sign up, was put on hold when CSC bought the centre from Westfield.
Hannah said Nottingham should be proud that in 2011 the city maintained its fifth place ranking for retail spend in the UK.
He added: "The NET2 tram extension will further enhance the attractiveness of a city centre location to retailers. I do think, however, that shopping centres need to brand themselves better."
Hannah said that Innes England was currently looking for units for 20 more Greggs stores throughout the East Midlands.