Joint partners announce long-term leasehold of Hemel Hempstead shopping centre

Two companies have announced a long-term leasehold to oversee operations at Hemel Hempstead’s main shopping centre.

Today (14 June), DSBG Riverside HH Limited (DSBG), a joint venture between Bugler Group and DS Real Estate confirmed it has taken over the Riverside Shopping Centre.

The partnership plans to rejuvenate the retail outfit.

DSBG plans to work with the current to improve shopping and hospitality services at the centre.

The takeover team highlighted the popular brands already at the venue which it hopes to build upon.

These were: TK Maxx, H&M, Next and the 113-room Premier Inn Hotel.

In total the group has agreed a lease on 270,000 sq ft of mixed use space.

Simon Miller, director, DS Real Estate, said: “An exciting future lies ahead. We aim to attract new opportunities for Riverside, including an enhanced retail offering and modernising the premises”.

Savills and Lewis & Partners were involved in brokering the deal and completing the join venture leasehold.

Andy Bugler, Group chief executive, Bugler Group, added: “We look forward to working with local partners and increasing Hemel’s offering to residents and visitors with the regeneration and enhancement of Riverside.”

Both companies have expressed an interest in acquiring similar large scale town centre projects. The joint venture has stated it would be interested in hearing about similar opportunities.

The Riverside Shopping Centre is inviting customers to purchase Father’s Day gifts at its stores ahead of the big event on Sunday (18 June).