Henderson Global Investors (Henderson) has been granted outline planning approval for its retail-led scheme in the market town of Bishop's Stortford in England.

Henderson, on behalf of its UK Property Fund, is investing £105 mln (EUR 120 mln) in the over three and half hectare site in the north-east corner of the town centre. The scheme includes a new department store; 35 shops, of which 10 are smaller units designed for independent traders; restaurants; a digital cinema, a hotel, circa 670 parking spaces and up to 100 new residential units.

The scheme is subject to referral to the Secretary of State for Communities and Local Government.

Construction is planned to begin in summer 2012 and the scheme is due to open in autumn 2014.