Royal London Asset Management has commenced construction on a £6 million investment project which will see a transformation of the northern section of Horsted Retail Park, Chatham. Planning consent was secured in May to substantially refurbish and subdivide the former Toys “R” Us unit, with new lettings agreed to Home Bargains and UFC Gym. Planning consent has also been granted for a new Aldi foodstore and KFC drive-thru. The initiative includes comprehensive highway and accessibility improvements. It is anticipated that all units will be completed by the end of the 2019.
Yasin Sadiq, Senior Asset Manager at Royal London Asset Management, commented:
“We are delighted to have commenced construction on this exciting project and to have secured four new and varied tenants which will not only improve tenant mix and local consumer choice, but also create significant economic benefits through the creation of up to 100 new jobs. We would like to place on record our thanks to Medway Council and the other local stakeholders for their support.”
Royal London Asset Management were advised on development and leasing by Avison Young.