Primark is latest name to sign up for £60m Rushden Lakes scheme

A panoramic view of how Rushden Lakes will look when it is completed

A panoramic view of how Rushden Lakes will look when it is completed

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Primark is the latest name to sign up for the multi-million pound Rushden Lakes development.

LXB Retail Properties Plc, the developer behind the major leisure and retail scheme, has exchanged contracts with Primark for a pre-let of a 53,000 sq ft store at the site just off the A45 near Rushden.

The logo for Rushden Lakes

The logo for Rushden Lakes

Primark is the fourth major pre-letting at Rushden Lakes, with M&S, House of Fraser and H&M having signed on the dotted line already.

Gavin Stollar, a spokesman for LXB, said: “The signing of Primark is another major step forward for the Rushden Lakes project and will pave the way for an exciting mix of additional retailers to sign over the coming months.”

Following these four significant pre-lettings, the group has said it is now well placed to let the remaining space at competitive rents to retailers who wish to trade alongside these key anchor tenants.

Rushden Lakes is due to open in Spring 2017.

The signing of Primark is another major step forward for the Rushden Lakes project

Gavin Stollar

Site remediation works are already in progress and the main building contractor is likely to be appointed towards the end of the year.

The aim is to hand over stores to the larger tenant occupiers for fitting out in October 2016.

LXB also continues to make progress in discharging the other pre-completion conditions of the forward funding with The Crown Estate, which was announced in April 2015.

These are largely concerned with securing pre-lets and modified planning permissions and the group remains confident that the contract will become unconditional in the early part of 2016.