Three New Lettings at Tower Ramparts
March 11 2014 - LaSalle has announced a flurry of signings at its Tower Ramparts shopping centre, Ipswich. River Island, Iceland, and Poundland have all taken space after agreeing refurbishment deals on their 12,500 square foot, 9,500 square foot and 21,000 square foot units respectively.
LaSalle Investment Management (LaSalle) has announced a flurry of signings at its Tower Ramparts shopping centre, Ipswich. River Island, Iceland, and Poundland have all taken space after agreeing refurbishment deals on their 12,500 square foot, 9,500 square foot and 21,000 square foot units respectively.
LaSalle has transformed two vacant retail spaces on the upper level of the Centre, plus both floors of the former Dorothy Perkins store, to provide extended space for River Island, which opened towards the end of last year, providing a significant increase to its product offer for Ipswich by including its Children’s wear range. Additional centre upgrades include the redevelopment of the ex-Littlewoods Department store located next to the bus station entrance for Iceland to provide 9,500 square feet for the frozen food retailer, which is returning to the centre and due to begin trading April 2014.
Work is now underway in preparation for the new Poundland store. The retailer will be opening the Tower Ramparts unit as their main retail outlet in the town occupying over 20,000 square feet of the former Littlewoods unit on the ground floor, underneath Iceland, with plans to unveil to shoppers in March 2014.
These new lettings join an extensive range of high street and convenience retailers including Top Shop/Top Man, Ernest Jones and Ryman which LaSalle has successful secured at the centre.
Gavin Ingram, Associate Director for LaSalle Investment Management said, “We have confirmed deals with Poundland and Iceland as part of their expansion, and our upgrade plans, following the successful opening of the refurbished River Island unit towards the end of last year. The return of Iceland to the scheme is testament to the retail opportunity that Tower Ramparts can offer. These lettings, combined with the transformation of the Tavern Street entrance with River Island will enhance both entrances to the scheme and also bring additional jobs to the town of Ipswich. Our vision for the Centre incorporates a diverse retail mix and we will continue to deliver new retail and leisure offerings. We have had significant interest in the remaining vacant units within the scheme and are looking forward to announcing some new brands for Ipswich in the very near future.”
About LaSalle Investment Management
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $60 billion as of Q1 2018 of private and public equity and private debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
This information is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made by means of a private placement memorandum. Past performance is not indicative of future results.