Capital & Regional, the UK community-focused shopping centre REIT, has announced that it has leased 52,000 sq ft of previously vacant office space at The Mall Luton to Luton Council.
The council has taken a ten year lease for four of five available floors located above the shopping centre. As part of the deal, Capital & Regional will invest over £5 million in a full refurbishment of the entire office space, which includes a new reception area directly accessed from the shopping centre.
The letting enables Luton Council to consolidate a number of public sector uses into one location under its One Public Estate strategy, creating opportunities for the council to redevelop surplus sites across the town centre. Occupiers at The Mall Luton will include Luton and Dunstable NHS Trust, which will open a clinic to deliver medical services in the town centre.
The commitment from Luton Council follows significant investment from Capital & Regional to introduce new uses in Luton town centre and is a further example of the partnership between the two organisations to help cultivate Luton into a thriving community.
Gareth Holland, Retail Asset Manager at Capital & Regional said: “Luton Council’s commitment will enable us to invest in bringing Arndale House back into use as contemporary office space and a community healthcare facility.
“This reflects our long-term aim to create a mix of uses which support and complement the retailers and other businesses in the town centre, and are tailored to the needs of the local community. We look forward to working with the council to relocate their staff to The Mall, in the heart of Luton.”
Sian Timoney, Portfolio Holder, Transformation at Luton Council said: “One of the key objectives of the Luton Investment Framework is ensuring that the town centre is vibrant and so we are really pleased to see this space, in the heart of Luton, brought back into use again. This is an ideal location for our Adult Learning and Active Luton teams and with this office space also accommodating our commissioners, working alongside the CCG it will contribute to their joining forces as part of the integration”.
Cathy Jones, Deputy CEO at Luton and Dunstable University Hospital said “We are excited to be involved with the Arndale House development project. Based on patient feedback about the existing service provision, we truly believe that providing services in purpose designed clinic facilities in a central location, with good proximity to other public services, will help people access them more easily and more quickly.”
The Mall Luton is a 900,000 sq ft retail and leisure scheme in the centre of Luton, which has a strong employment base and a growing population. The centre is home to over 150 retailers and benefits from an immediate catchment of 200,000, with weekly footfall of 400,000.
