Property Week, September 2005

While Hemel Hempstead lives on, the old BP headquarters building has gone and in its place is a mixed-use development that will bring the town its first department store and potentially increase the total amount of shops by 35%. The Crest Nicholson Developments mixed-use scheme, Riverside, is scheduled to open on 27 October. The Riverside development comprises a 385,000 sq ft (35,770 sq m) extension to Hemel Hempstead Town Centre and is next to the Marlowes shopping centre. The commercial part of the scheme will provide 286,000 sq ft (26,570 sq m) of retail and leisure. Riverside is anchored by an 86,000 sq ft (7,990 sq m) Debenhams, and a 110-room hotel overlooking the water gardens in the town centre is to be operated by Premier Travel Lodge.

Martin Mortimer, development director for Crest Nicholson Developments, says that the scheme, designed by Bernard Engle Architects & Planners, is more than 85% let, and two weeks ago, clothing retailer Peacocks signed for 9,900 sq ft (920 sq m). Other retailers at the scheme include Next, which has taken 15,000 sq ft (1,395 sq m) to roll out its new larger-store format, and Monsoon, which has taken 6,500 sq ft (605 sq m) over two floors. There are lettings to new retail entrants to the Hemel Hempstead market, such as discount fashion retailer TK Maxx, which has taken 34,800 sq ft (3,235 sq m), and H&M, which has taken a 13,600 sq ft (1,265 sq m) unit on two floors. Waterstone’s, HMV, Clinton Cards, the Link and Starbucks will also have stores.