Developer says opening of Rushden Lakes will be delayed
The opening of the multi-million pound Rushden Lakes development has been delayed.
LXB, the developers behind the major retail and leisure scheme being built off the A45 at Rushden, had said phase one of the scheme was due to open next Spring.
But a report published by LXB this week says the opening has been delayed from April until July next year due to ‘highways issues.’
The report carries a statement by chairman Phil Wrigley, which says: “At Rushden Lakes the eventual outcome in cash terms is dependent upon final lettings where very substantial progress has been made on phase one, with 70 per cent of space let and another 14 per cent in solicitors’ hands.
“The phase one build has progressed well and has now been substantially completed.
“We expect to start handing over to the anchor retailers in February next year.
“Opening has been delayed until July 2017 from our original plan of April 2017 due to highways issues completely beyond our control.
“On phases two and three, planning is now in for the final scheme and we expect a decision by January 2017.”
Highways England project manager David Steventon said: “We continue to work with the developer as the scheme moves forward.
“Our commitment has always been to deliver the route network as quickly as possible for the development and we continue to work closely with the local developer and key stakeholders to ensure that the complex can open as quickly as possible.”
Phase one of Rushden Lakes includes three retail terraces, associated restaurants and a major trunk road upgrade.
It will be anchored by M&S, House of Fraser and Primark.
A revised planning application has been submitted for amendments to phases two and three, which includes additional restaurant space, a re-designed leisure building to enhance the leisure offer and add two cinema screens to take the
total number of screens to 14 and additional retail space and car-park spaces.
A letting to Cineworld is in solicitors’ hands (Cineworld have already signed a pre-let for the cinema in the original scheme) and a number of the restaurant lettings are in solicitors’ hands.
It is anticipated that planning will be granted for the amendments by January 2017 with construction planned to start in the second quarter of 2017.