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Press Release issued by Stanhope - Old Market gathers momentum with new retailer interest and opening set for May

Press Release issued by Stanhope

The works on site at Old Market are rapidly approaching completion and we look forward to welcoming excited members of the public to the scheme soon.

The shopping centre will deliver 18 big name retail brands including a three-storey Debenhams department store, a great dining offer with eight restaurants, a cafe, a six screen Odeon cinema, 600 car park spaces and new public squares and spaces.

After a series of recent retailer signings and with a number of other retailers now under offer, Old Market is now 93% per cent let and under offer, which is a particularly strong position to be in at this stage in the development process. The line up includes Debenhams, Waitrose, Odeon, TK Maxx, Next, L’Occitane, Outfit, Costa, Zizzi, Frankie & Benny’s, Miller & Carter, Nando’s, Chimichanga, Fat Face, Clarks, H&M and Prezzo.

With this impressive line-up, Old Market promises to be the most significant retail and leisure development in Hereford for 25 years and will boost the local economy through increased trade and new jobs and act as a catalyst for attracting further investment into the City.

With this in mind, Stanhope’s priority is to present a scheme that is of a standard that Herefordians expect and deserve. Due to the exceptional weather conditions experienced earlier in the year and the subsequent impact on the construction works, including the ability to undertake external works (brickwork, rendering, paving etc), Old Market will open on Friday 9 May. This decision has been reached despite accelerated works over the last few weeks and months, and although the development is now set to open a little later than reported, developer Stanhope and lead contractor, Sir Robert McAlpine are still on track to open in advance of the actual contract programme.

Over the next few weeks, the finishing touches to the paving, planting and car parks, as well as testing and commissioning of services will take place to ensure that customers benefit from a scheme that is of the highest quality when Old Market opens its doors to the public. British Land, the UK’s largest listed retail landlord, will manage the scheme from the initial opening.

It is anticipated that more of Old Market’s stores and restaurants will be trading in time for the new opening date. More information on stores opening on 9 May will follow over the next few weeks. The remaining retailers and restaurants will open their doors in the weeks and months thereafter. There will be a four day programme of events and activities to celebrate final store openings in August.

Old Market will provide 1,100 jobs and lift Hereford into the Top 100 UK retail locations for the first time, enabling it to compete with its regional neighbours. Independent research indicates that it will grow Hereford’s shopper population by more than 25% to over 155,000 people and could help boost the city’s turnover by £100 million.

Tags: Business and economy, Community and living, Leisure and culture