Rochdale Riverside, which forms part of a £400m regeneration of Rochdale town centre, is now over 90% let, and currently flaunts numerous major retail names, such as H&M, M&S and River Island, alongside well-known leisure operators, Nandos and Reel Cinema.
More recently, the major high street brand, New Look, has signed for a 10,300 sq. ft unit at the development for a lease of 10 years. Since opening in April 2020, New Look is the fifth new tenant to sign a lease since the start of the pandemic. Work is underway to fit out the unit in preparation for pre-Christmas opening, with plans for the development to be completed by 2024.
The regeneration has continued the success with an additional £20m of external funding from Rochdale Borough Council to build 242 new rental apartments and a 146 bed Hampton by Hilton hotel in the town centre, the £60 million scheme, known as ‘Upperbanks’ has been appointed to contractors, Willmott Dixon. The Upperbanks site will be based next to the Rochdale Riverside which is a crucial step to enhance the environment for residents at Rochdale and generate sustainable employment opportunities.
Having secured and completed the initial £80m funding deal with M&S Investments, Kajima and Genr8 formally established Genr8 Kajima Regeneration Ltd earlier this year, to seek out further opportunities for town centre regeneration projects across the UK.
Kirk Taylor, Development Director at Kajima, commented: “We are really excited about building on the success of Rochdale Riverside. The partnership wants to engage with public sector partners who are looking to bring about real, physical and social change to their towns and city centres. Our proven track record on the project demonstrates that this partnership can bring both real expertise and financial resource to the Government’s ‘levelling-up’ agenda, for the benefit of communities around the country.”