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New Maltings owner plans significant investment into centre

The Maltings

TIAA Henderson Real Estate (TH Real Estate) has confirmed that it is considering a multi-million investment into The Maltings, in Salisbury, following its acquisition of the centre just before Christmas.

Initial plans being drawn up include improvements to the river-side quarter, the strengthening of the current retail offer and an attractive extension of the café and restaurant areas. As well as architectural improvements to the outdated elements and the rejuvenation of the Sainsbury’s supermarket, TH Real Estate intends to work with Wiltshire Council and the existing retailers to bring the design of the current-dated scheme firmly into the 21st century.

TH Real Estate has held an initial meeting with Wiltshire Council. A follow-up meeting is planned for early March. Although current plans and budget relate to The Maltings, TH Real Estate is committed to working alongside the Council on any complimentary schemes.

Marcus Langlands Pearse, Director at TH Real Estate, said: “We are extremely excited about working with the Council on our plans for The Maltings, which we believe can breathe new life into Salisbury city centre. Our team has wide experience of town centre retailing and all of the structural, political and retailing issues that they throw up. Our budget makes a full allowance for the sensitive nature of the setting and for the need to be forward-thinking and radical in our architecture in producing a lasting, viable scheme that is relevant to local people and will attract business and investment into the city centre.”

Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority.TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services.

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