Hunter Real Estate Investment Managers (Hunter) is set to go ahead with a £7m investment in The Spires Shopping Centre in Barnet after Barnet Council unanimously approved the scheme at committee. Following the approval, Hunter has announced international fashion brand, H&M, as the occupier for the new 24,540sq ft anchor unit.
Designed by Leslie Jones Architecture and advised on by Montagu Evans, the approved plans include three new restaurants and contemporary public realm improvements both inside and outside of the 90,000sq ft centre, as well as the new H&M unit.
Andrew Moffat, fund manager at Hunter, said: “Barnet is one of London’s largest and fastest growing boroughs, as well as the most affluent, but to date the high street has lacked a suitable fashion and restaurant offer. Our plans build on recent refurbishment to deliver an offer suitable for the local catchment, which will help increase footfall and create an evening economy for Barnet’s high street.”
Hunter Real Estate Investment Managers purchased The Spires Shopping Centre in July 2015 on behalf of a North American Institution and these latest proposals build on work already completed at The Spires, including the refurbishment of the main high street entrance which is home to new tenants Carluccio’s and Anytime Fitness. The application continues these works to significantly reposition the Centre and attract strong, aspirational retailers that meet the requirements of Barnet’s affluent shopping population.
Richard Flood, letting agent at KLM Retail, which acted for Hunter, said: “We are already seeing good interest from quality brands that are recognising the step change that the refurbishment will herald. There is no doubt that these improvements will enable The Spires to mirror the retail offer present in so many affluent M25 towns.”