European fashion multiple H&M has secured the largest new unit in Guardian Properties’ 6,500 sq m (70,000 sq ft) expansion of the Capitol Shopping Centre in Cardiff. The shop will be one of the largest in the retailer’s European portfolio.
No details of the rent have been released by either party but H&M, also known as Hennes, is thought to be paying around the quoting rent of £110 Zone A on the 2,787 sq m (30,000 sq ft) unit, according to market sources.
Guardian is spending around £15m on the upgrade of the centre, which is off Cardiff’s prime retail pitch on Queen Street. It is offering new and refurbished floorspace across three levels of the centre. “We have two café units in solicitors’ hands,” confirmed Andy Lucas of sole letting agent DTZ Debenham Thorpe. “And we are actively negotiating with another European fashion retailer, among other potential occupiers, to take space in the scheme.”
Recently Karen Millen and Swatch took space in the original scheme and the refurbishment should be complete for new retailers to start trading before next Christmas.
Hartnell Taylor Cook advised H&M.
EGi News 11/12/98
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