With a combined investment of over £30m from John Lewis, BlackRock and Cheltenham Borough Council, the proposal will see the Beechwood shopping centre in Cheltenham transformed into a John Lewis department store.

Creating up to 250 jobs and offering more than 115,000 square feet of selling space across two floors, the shop will showcase fashion, home and consumer electronics concepts in a contemporary setting.

Tim Harrison, Director of Store Development at John Lewis, said: 'Cheltenham has long been a sought-after location for us and we're delighted to be able to expand our reach to customers across the region for the first time.  This new shop will provide more convenient access to our inspiring products and great service, and we're looking forward to becoming part of the local community.'

John Benham, Vice President of Real Estate at Blackrock, said: 'This development improves Cheltenham as a shopping destination, increasing footfall within the town centre and encouraging other retailers to the area. At the same time, this ensures the long term viability of the site, creating long-term returns for our investors by improving the building and securing a high quality brand as a tenant.'

Notes to editors

John Lewis - John Lewis operates 45 John Lewis shops across the UK (32 department stores, 11 John Lewis at home and shops at St Pancras International and Heathrow Terminal 2) as well as johnlewis.com. It is part of the John Lewis Partnership, the UK's largest example of worker co-ownership and all 30,000 John Lewis staff are Partners in the business. John Lewis, 'Best Clothing Retailer 2015' , 'Best Electricals Retailer 2015' and 'Best Homewares Retailer 2015'¹, typically stocks more than 350,000 separate lines in its department stores across fashion, home and technology. Johnlewis.com stocks over 280,000 products, and is consistently ranked one of the top online shopping destinations in the UK. John Lewis Insurance offers a range of comprehensive insurance products - home, car, wedding and event, travel and pet insurance and life cover - delivering the values of expertise, trust and customer service expected from the John Lewis brand.

¹ Verdict Consumer Satisfaction Awards 2015

Enquiries

For further information about BlackRock, please contact:
Gillian Lock, FTI Consulting, PR agency for Blackrock
Telephone: 0203727 1321
Email: gillian.lock@fticonsulting.com

For further information about John Lewis please contact:
Vikki Speed, Senior Communications Officer (Corporate & Brand)
Telephone: 020 7931 4921
Email: vikki.speed@johnlewis.co.uk