November 1, 2017
Sovereign Centros, the UK retail and leisure developer and asset manager, has announced a raft of new lettings at St Enoch Shopping Centre in Glasgow ahead of a significant investment in the centre.
Acting on behalf of owners Blackstone Real Estate, partner Sovereign Centros, has secured deals with Swarovski, Billie’s Market, Pavers, Claire’s Accessories, Ecco, Thorntons, HMV, Asylum, Mr Nick’s Greek Kitchen and Starbucks
Alexandra Popplestone of Sovereign Centros commented: “Our masterplan approach for St Enochs is not only attracting new retailers, but is encouraging existing tenants to make a long term commitment to the centre.”
Swarovski has signed a new 10 year lease on a 780 sq ft unit, having previously traded from a kiosk. Billie’s Market has signed a 10 year lease on 1,400 sq ft to open its first store outside London. Billie’s Market is a concept store from Children’s Worldwide Fashion (CWF), which sells brands such as DKNY and Timberland, as well as four in-house brands.
Pavers has also relocated, on a permanent lease, to a larger 2,200 sq ft unit within the successful Buchanan Mall. HMV has committed to a further three years from 2018 and Asylum Retail has taken a new 5 year lease on a 1,170 sq ft unit on the Upper Buchanan Mall.
Following a comprehensive refurbishment of the Food Court, three new kiosk sites have been made available. The first has been leased to Mr Nicks on a new 5 year term. Mr Nick’s brings a new cuisine offer to the centre and will open in October 2017.
Alexandra adds, “We are committed to providing best in class accommodation for our retailers and an enhanced customer experience. As well as being in advanced discussions with new retailers, we have re-geared leases with a number of including HMV, Claire’s Accessories, Ecco and Thorntons.
“These deals help to continue the resurgence of St Enoch, will help boost footfall in the City and reinforce its position as the premier shopping destination in the city centre.
Sovereign Centros’ masterplan approach includes a planning application for three new, reconfigured flagship retail units on Argyle Street, and a new VUE Cinema to anchor the new East End leisure development.
Sovereign Centros was advised by Cushman & Wakefield and Eric Young & Co.