April 17, 2013
On-trend footwear retailer tReds, which is advised by Kitchen La Frenais Morgan, has signed three new stores as part of its on-going UK expansion.
The retailer has acquired store of 2,400 sq ft sales plus ancillary within The Mall, Camberley, a store of 1,500 sq ft sales with ancillary space in North Street, Chichester and store of 1,200 sq ft sales in High Chelmer Centre, Chelmsford. In each case Treds signed a 10 year lease with a tenant option to break. Rents varied between £92,000 pa and £65,000 pa.
Camberley and Chichester have just opened and Chelmsford is due to open in May 2013.
Two further stores are under offer and Kitchen La Frenais Morgan is also on the hunt for four additional stores to open this year. tReds is focussing future expansion on the Midlands and East Anglia as well as continued infilling through the south East. Stores of around 1,500 to 2,000 sq ft sales are being sought. Landlords include La Salle, Aviva, L&G, The Mall, Rockspring and Land Securities.
tReds was launched at the end of 1996 in Weymouth in Dorset and has expanded organically throughout the county. It now has 28 stores. The company sells fashion forward but affordable footwear aimed at 15 to 40 year olds. Brands include the likes of K-Swiss, Fly London, Lacoste, Sketchers, Boxfresh, Vans and UGG Australia. The company is privately owned.
Will Thomas of Kitchen La Frenais Morgan, said: “tReds is very performing well in a tough retail climate and we are taking steps to consolidate on that success by further improving its footprint throughout the UK with these new openings.”