Gap has signed up for a 2,137 sq m (23,000 sq ft) multi-level unit at Birmingham’s Bull Ring. The deal means Gap is the first retailer to commit to both of the Birmingham Alliance’s city centre retail schemes – it has already decided to open a 2,160 sq m (23,250 sq ft) store at Martineau Place. Rents achieved so far at the Bull Ring range from £250 to £300ZoneA.
Gap joins Selfridges, Debenhams and Next at the Bull Ring, while Hennes and Sainsbury’s have already committed to Martineau Place. The US retailer intends to keep its 418 sq m (4,500 sq ft) store on New Street in the city centre.
The 16,722 sq m (180,000 sq ft) Martineau Place development is due for completion next autumn, while the 102,190 sq m (1.1m sq ft) Bull Ring will be ready in 2003.
Healey & Baker and Lunson Mitchenall are letting agents for Martineau Place. Jones Lang LaSalle and Healey & Baker are joint letting agents on the Bull Ring.
EGi News 14/07/00
