Strutt & Parker has been appointed as letting agents on The Crescent in Hinckley, a mixed use town centre regeneration scheme.

The retail and leisure scheme is being developed by The Tin Hat Regeneration Partnership (Wilson Bowden, Ashcroft Estates and Centenary Asset Management) in conjunction with Hinckley and Bosworth Borough Council.

The Crescent will create a modern mixed use scheme designed to enhance the retail and leisure offering currently provided by Hinckley town centre. The proposed scheme includes a 100,000 sq ft foodstore, 18,000 sq ft cinema, 25 A1/A3 units totalling 125,000sqft (with shops specifically allocated for independent local retailers), a bowling alley, 550 car parking spaces and a new bus terminus.

Terms are close to being agreed with both a major foodstore and cinema, who will anchor the development.

A planning application for the scheme, where a development agreement was signed in the Autumn of last year, will be made in the spring / summer this year.

Lambert Smith Hampton is the joint agent.

Rob Williams, Partner of Strutt & Parker’s Retail Team, comments:

“With retail floorspace supply rapidly drying up due to larger town and city centre retail developments being on hold or abandoned, retailers are turning their attention to market towns, where supermarket anchored proposals, with retail accommodation of 100 / 150,000sqft, have significantly fewer viability issues than the larger schemes. These market town proposals therefore provide more realistic opportunities for retailers to secure new units. Given a number of such towns would have been overlooked in the ‘boom’ days, they often do not have the size of units demanded by leading retailers such as Next and New Look today, which schemes such as The Crescent will address.”

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