Standard Life Investments, advised by Strutt& Parker, has let the two remaining units at The Water Gardens, Harlow.

Details of the deals are as follows:

• Unit 13 – Arcadia, trading as Burtons, Dorothy Perkins and Evans, has taken unit 13, which will provide 7,994 sq. ft. of retail space, on a ten year lease at a headline rent of £37.50 per sq. ft. CBRE acted for Arcadia.

• Unit 7a – Fashion retailer, Jane Norman, has taken Unit 7a, which provides 2,500 sq. ft. of retail space, on a ten year lease at a headline rent of £47.50 per sq. ft. Cushman & Wakefield acted for Jane Norman.

Comprising 410,000 sq. ft. with a total of 25 units, The Water Gardens has become the prime retail pitch for Harlow since opening two years ago.

Commenting on the new lettings, Mike Hannigan, Investment Director at Standard Life Investments, said: “We are delighted that Arcadia and Jane Norman are taking space at The Water Gardens. Independent exit research has shown that visits by affluent AB customers are up by 300% over a 12 month period and that customers are spending 16% more than they did a year ago. In just two years since it opened, The Water Gardens has become the prime retail pitch for Harlow.”

Rob Williams, Partner in Strutt & Parker’s Retail Team said:

“With a retail sales area of 410,000 sq. ft. and 25 units, The Water Gardens has transformed the face of shopping in Harlow. Affluent customers in the catchment area who have been absent from Harlow for some time are now returning to shop there and are spending longer at The Water Gardens because of the strength of the retail mix.

“As part of a strategic programme for the scheme, the final two units were held back whilst the scheme established itself as the prime shopping pitch for the town. This has now been achieved and its success confirmed by attracting two high profile tenants and strengthening the retail mix at the scheme, which is now fully let.” concluded Williams.

(Ends)

Notes to editors

Independent research was conducted for Standard Life Investments in October 2006 and compared against similar research carried out in October 2005.

Over 300 exit interviews were conducted and approximately 500 catchment interviews, identified by postcode.