Marlowes deals soar to £53.8m

The Marlowes Shopping Centre, Hemel Hempstead PNL-160102-134636001
The Marlowes Shopping Centre, Hemel Hempstead PNL-160102-134636001
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A firm which bought Marlowes Shopping Centre earlier this year has now purchased two adjacent sites to bring the total deal to £53.8million.

The Herald Express reported in January that property firm Capital & Regional had agreed a £35.5million deal to buy the town centre shopping centre.

It has now agreed additional deals to buy Edmonds Parade and Fareham House. Together the three sites will provide 90 units over 340,000 sq ft, with 1,200 car parking spaces.

James Ryman, investment director at Capital & Regional, said: “We are long-term investors in town centres, and we recognise the potential that Hemel Hempstead has as a fast-growing London satellite town.”

He added that the aspiration is to revamp the Marlowes Centre, and consolidate it with the two adjoining sites to create a vibrant, modern shopping environment.

He added that the company are confident in our ability to reinvigorate the centre, and Hemel Hempstead as a whole.