Another phase at Rushden Lakes will be fully let soon
Another phase of the multi-million pound Rushden Lakes development will be fully let soon.
Phase one is already fully let and work on phase two, the leisure space including a 14-screen Cineworld cinema, 11 new restaurants and five leisure units including a climbing wall, is progressing well.
But before that is completed, phase three including stores such as Wren Living, Decathlon, AJ Cycles and Cotsworld Outdoors, should be finished and open for business.
LXB, the developers behind the £140 million retail and leisure scheme, have just published their interim results for the period ending March 31.
The results include a report by Tim Walton on behalf of LXBᵌ Partners LLP, which says: “Phase Three is expected to be fully let shortly, all terms are agreed for the final letting and the contracts are out for signature.
“This should occur before practical completion which is scheduled to occur in July 2018, following which the group expects to receive cash of £2.7m.
“Construction of the leisure space in Phase Two is progressing well and practical completion will occur as sections are completed, allowing tenants to take occupation in stages.
“The first tenants are expected to take possession of their units for fitting out in September 2018 with further sections completing over the following months until full practical completion occurs in January 2019.”
Th report says there are four units still to let in Phase Two, although solicitors have been instructed in connection with the letting of two of these units.
Mr Walton’s report also commented on the road improvements, saying: “The contractor appointed by Highways England to carry out the A45 improvement works has completed and, subject to final sign-off by Highways England, the works are final and the related completion certificate can be issued.”
To read more about Rushden Lakes and how it has helped its owners The Crown Estate have a strong year financially, click here