Nando's signs up to LGP's Arndale Centre in Eastbourne
Legal & General Property ("LGP") announces that it has signed up Nando’s as the first restaurant for the £85 million extension to the Arndale Centre in Eastbourne.
Taking a 20-year lease on a 3,288 sq ft unit, the popular restaurant chain will form one of seven restaurants due to open at the Centre. Well positioned within the scheme, the Nando’s will be located on the same floor as Cineworld’s multi-screen digital cinema and the other restaurants.
With completion targeted for 2018, the major 170,000 sq ft retail and leisure extension is due to start on site in late 2015, with a phased opening. Other retailers include Next and H&M.
Neil Crawford, Retail Development Manager at Legal & General Property, said: "Looking to enhance the town’s night time as well as day time, family focused offer, this is a another major step forward for the Arndale Centre extension and demonstrates the quality of popular restaurant operators that we are looking to bring to the scheme. We will be announcing more operators in the coming months."
DTZ acted for LGP
NOTES TO EDITORS
Legal & General Property
Legal & General Property (LGP) forms part of the Real Assets division of Legal & General Investment Management (LGIM), which is responsible for the company’s direct investment capabilities in property and infrastructure. One of Europe’s largest institutional asset managers and a major global investor, LGIM manages £465bn in assets on behalf of over 3,100 clients (30 June 2014), providing products and solutions spanning all asset classes. LGP is the third largest institutional property fund manager in the UK, managing or co-managing 19 funds or vehicles with an aggregate asset value of £15.5bn (31 Dec 2014). These include:
Life Fund; Linked Pensions; Linked Life; Managed Fund; Legal & General UK Property Fund; UK Property Income Fund I; UK Property Income Fund II; LPI Income Property Fund and the Hybrid Property Fund
Specialist Pooled Funds
The Leisure Fund Limited Partnership; Industrial Property Investment Fund; Arlington Business Parks Partnership; and the English Cities Fund
Single Asset Vehicles
Bracknell Regeneration Partnership; Central Saint Giles Partnership.
LGP’s UK-focused asset management platform has built and retained a strong track record of out-performance. Owing to its size, diversity and penetration, it benefits from best-in-class banking and property contacts which, along with its wealth of in-house skill and expertise, have enabled it to continue to attract and secure high quality market opportunities.
Taking a client-centric approach, the business places the highest priority upon integrity and transparency, leveraging the significant resources provided by the wider LGIM platform. Protecting the medium to long term value of its portfolio, as a leader in sustainability, green principles are embedded into every property and investment decision.
Sector specialists cover each sphere of the market and are supported by LGP’s market-leading research capability. In particular, the Company has a major development platform, responsible for delivering community-focused projects ranging from West End landmark buildings to significant town-centre retail and leisure regeneration schemes.
Forming part of the Group’s larger UK housing and infrastructure investment strategy, LGP also continues to participate in a growing range of supply side housing activities, including financing affordable homes, the house building sector, urban regeneration, student accommodation and care homes.
For more information please contact:
PR MANAGER, LEGAL & GENERAL CAPITAL AND REAL ASSETS, LGIM (PROPERTY, INFRASTRUCTURE AND ALTERNATIVE FINANCE)
t: + 44 (0) 203 124 2777
m: + 44 (0) 7718 395 279
ABOUT LEGAL & GENERAL
Legal & General Property Limited.
One Coleman Street
London EC2R 5AA.
Registered in England 2091897.