CBRE GLOBAL INVESTORS AND SOVEREIGN CENTROS COMPLETE ARNISON REDEVELOPMENT

May 25, 2018

Sovereign Centros, on behalf of CBRE Global Investors, has reached a significant milestone at Arnison Shopping Park in Durham, following the opening of JD in the redevelopment of a former Homebase store.

The sports fashion retailer has taken a 6,500 sq ft unit on a new 10 year lease joining Next, which recently opened a 50,000 sq ft store, New Look and River Island in adjacent units.

John Marsh, Director, Sovereign Centros commented: “Our desire was to improve the fashion offer and the overall tenant mix at Arnison. Substantial investment in the Park has been made to create larger new units and give it a more cohesive look and feel. The end result is a superb environment for retailers to trade and consumers to shop.”
Hannah Marshall, Fund Manager, of CBRE Global Investors said: “Arnison Shopping Park is a strong trading environment and a very desirable location for out of town operators. This is an exciting time for Arnison as we continue to invest by carrying out the second phase of the frontage refurbishment works.”

In addition to this letting there has been a redevelopment of a 60,000 sq ft M&S flagship store, food and café hub, major frontage upgrades and general car park improvements.

Arnison Retail Park is the leading out of town retail destination in Durham city comprising a total of 286,000 sq ft of shopping and leisure accommodation and attracting more than 65,000 visits a week.

Wilkinson Williams and Savills advise Sovereign Centros and CBRE Global Investors.

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