The UK division of Multi Development has confirmed that it signed a joint venture agreement with Morley Fund Management last week for a EUR 521 mln regeneration in the centre of Bath in the southeast of England. A subsidiary of the Dutch-based Multi Corporation, Multi Development also announced on Thursday that it has secured department store Debenhams as the retail anchor for the redevelopment. Debenhams has agreed to take a 25-year lease on 11,600 m[sup]2[/sup] over four levels which form part of the overall 56,000 m[sup]2[/sup] Southgate project.
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