The Spires shopping centre in Barnet has gained a £7 million investment from real investment management company Hunters.
The local council based in London’s north reached a unanimous decision to accept the investment, which places international fashion retailer H&M in a brand new anchor unit stretching 24,540 sq ft.
The investment will also see three new restaurants and significant public realm improvements, adding to the new refurbishment of the high-street entrance which holds new tenants Carluccio’s and Anytime fitness.
Architects Leslie Jones will design the refurbishments.
“Barnet is one of London’s largest and fastest growing boroughs, as well as the most affluent, but to date the high street has lacked a suitable fashion and restaurant offer,” fund manager at Hunter Andrew Moffat said.
“Our plans build on recent refurbishment to deliver an offer suitable for the local catchment, which will help increase footfall and create an evening economy for Barnet’s high street.”
Hunter purchased the shopping centre in July 2015 and have already pushed to attract aspirational retailers.
Letting agent for Hunter Richard Flood added: “We are already seeing good interest from quality brands that are recognising the step change that the refurbishment will herald. There is no doubt that these improvements will enable The Spires to mirror the retail offer present in so many affluent M25 towns.”