Construction starts as Legal & General partners with 鈥榤ajor international investor鈥�
Kier is set to start work on an 拢85m extension to a shopping centre in Eastbourne after developer Legal & General agreed funding for the scheme.
L&G said it has partnered with a 鈥渕ajor international investor鈥� to fund the extension to the Arndale shopping centre as well as its wider 拢220m regeneration programme.
The developer said a contract is now in place with Kier after it secured extra funding for the project.
Construction on the 175,000 sq ft extension 鈥� which brings 22 new retail units, 300 extra car parking spaces, seven restaurants and a nine-screen cinema to Eastbourne鈥檚 town centre 鈥� has already started and is expected to be finished in autumn 2018.
James Whitehill, senior fund manager at LGIM Real Assets, said: 鈥淭his injection of international capital by a key investment partner, alongside Legal & General鈥檚 existing ownership and investment, ensures the further strengthening of an already dominant retail destination.
鈥淲e have already secured a host of excellent retailers for the extension to include a major cinema operator as well as many popular restaurants in a boost to both the town鈥檚 day time and night time economy.鈥�
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