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ROM Capital submits retail business property plans
ROM Capital has submitted plans to develop commercial property at its Clacton Factory Outlet park.
The investment group plans to build a six-screen cinema at the site, which is part of its UK Opportunity Fund, Property Week reports.
It acquired the park in January 2008 and since then has boosted occupancy rates from 51% to 75% and is set to take on more tenants - including Burger King and Yam Yam to Go - in the near future.
The plans have been handed to Tendring District Council along with a request to build five new restaurant buildings.
If they are successful, work would start later this year and be completed by September 2011.
In addition ROM Capital, which established its UK Opportunity Fund in November 2007 as part of a joint venture with Lloyds Banking Group, has been granted permission to build two new stores at Bescot Retail Park.
The two sites are part of the eight million sq ft of business property it manages, which is valued at around £1 billion.
The investment group plans to build a six-screen cinema at the site, which is part of its UK Opportunity Fund, Property Week reports.
It acquired the park in January 2008 and since then has boosted occupancy rates from 51% to 75% and is set to take on more tenants - including Burger King and Yam Yam to Go - in the near future.
The plans have been handed to Tendring District Council along with a request to build five new restaurant buildings.
If they are successful, work would start later this year and be completed by September 2011.
In addition ROM Capital, which established its UK Opportunity Fund in November 2007 as part of a joint venture with Lloyds Banking Group, has been granted permission to build two new stores at Bescot Retail Park.
The two sites are part of the eight million sq ft of business property it manages, which is valued at around £1 billion.
Fri, 12th Mar 2010