Hunter Real Estate Investment management say there is still no agreement on a deal – and until a much talked about “major fashion chain” does agree to open a branch in High Barnet, no date can be annunced when building work might start.
Barnet Council gave planning approval last month for a new two-storey store, and Hunter Real insists that that an announcement is imminent.
“Now that we have planning approval, we hope within the next fortnight or so to announce that a major international fashion brand is coming to the Spires.
“We are in advance negotiations over what will become the Spires’ new anchor store, but until that deal has been agreed we cannot say when it will be possible to start construction work.”
Planning approval has been given for the amalgamation of four retail units in the second court yard to create new two-storey fashion store. Other units would be converted into three new restaurants.
Hunter Real Estate, who manage the Spires on behalf of a Canadian pension fund, say that once there is agreement on the operator of the anchor store, then it should be possible to let the three new restaurants, but it all depends on the ability to attract an international fashion retailer.
Once there is a deal, we hope to attract other exciting brand names to the Spires.
Plans for an upgrade of the Spires were revealed at an exhibition last year and the intention had been to start construction work in the spring on a 24,000-square-foot new fashion store and three new restaurants, with the new restaurants being finished by the end of this year, and the new store opening in the summer of 2017.