METROCENTRE POWERS AHEAD

July 23, 2021

Metrocentre has highlighted its continuing consumer strength and retailer appeal by securing three major lettings as part of its transformation and repositioning since coming under the asset management of Sovereign Centros.

Harrods H Beauty, JD Sports and H&M have all signed new long leases for major flagship stores which will open between April and June next year.

H Beauty is a real coup for the centre securing their largest store to date at 30,000 sq. ft on a 20 year lease fronting Town Square. The store will incorporate a champagne bar and brands such as Gucci, Dolce and Gabbana and Hourglass. The store will sit alongside the other premium brands in Central Square reinforcing the quality of the centre.

JD have taken a 10 year lease on a 28,000 sq ft flagship store in Platinum Mall upsizing from their existing 10,000 sq. ft store in Upper Red Mall. Incorporating state of the art customer experience, the store will offer exceptional choice. The store is being created by combining four existing units currently occupied by Flannels, Game, HMV and Paperchase all of whom are being relocated to new stores within the centre.

H&M are expanding their existing store in Red Mall into a new 25,000 sq ft flagship which will incorporate their new Home concept, offering a significant point of difference from their Newcastle city centre outlet. The new store is being created by relocating Hugo Boss into a new adjacent store.

Graeme Jones of Sovereign Centros, the asset and development managers for the Centre commented: “This is all very exciting. These lettings really reinforce how retail in these powerful major regional centres is changing, replacing the hitherto reliance on the old department store formats as anchors with new and exciting concepts and brands which will be much more interactive for the shopper. These quality fashion brands are a major draw for our customers. There is a lot more to come over the coming months with some other exciting lettings lined up. “

Lunson Mitchenall and Time Retail advised Metrocentre

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