Councillors in Watford will be hoping that it is third time lucky for the redevelopment of the town centre. They had been faced by the second choice developer, London & Regional, pulling out of the project because apparently it wants “to concentrate on the core business.” They had taken over from Capital Shopping Centres for the 37,160 sq.metres (400,000 sq.ft.) Charter Place scheme.
Now the baton has passed to Henry Boot Developments as the council’s joint venture partner. This has been a real problem for many towns throughout the UK as the decline in the economy hit home and developers pulled out of shopping centre schemes. The one comforting piece of information at the moment is that the increase in the number of empty units in shopping centres has, according to the latest surveys, halted although still leaving some centres with athird of the shops empty.
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