LXB Retail make progress at Rushden Lakes, updates on residential work

25th Jun 2015 07:59

Real estate investment company LXB Retail Properties said it has a major anchor tenant for its Rushden complex, as it updated the market on residential projects. LXB said House of Fraser will join M&S and H&M in the £140m Rushden Lakes complex and said there were further discussions with other retailers. The department store will lease 32,000 sq ft of ground floor space.In an update, LXB also said it was closer to gaining planning consent for its Threemilestone development of 435 houses, as the National Planning Casework Unit has decided it does not require a public inquiry.The developer said its plans still require approval of detailed design and road works, the preparation of which was still ongoing.Meanwhile the company said it has completed the £12.5m sale of its investment at Sutton to Linden Homes.LXB Retail shares were up 1.1% at 88.5p by 08:43.