News

Land Securities proposes £15m extension to Sunderland’s Bridges centre

News

Annabel Dixon

29 September 2010

Retail

Land Securities plans to submit proposals for a £15m extension to its Bridges centre in Sunderland for a Primark anchor store next month.

The £15m expansion will allow the REIT to deliver a three-storey shop for Primark if approved. Work is scheduled to start in 2011.

Jonathan Buckle, portfolio manager for the Bridges, said: “Primark has outgrown its existing store, located on Fawcett Street and are very keen to remain in the city.”

“The Bridges is fast becoming a fashion hub and with the likes of Bank, H&M, New Look, Top Shop, River Island and Schuh already part of the retail offer we are confident that this is the right location for the brand new Primark store.”

Land Securities has also agreed five new retailer deals totalling 24,000 sq ft at the shopping centre. Budget retailer, Poundworld is taking a 9,000 sq ft shop on a 10-year lease.

Clothing retailer Bank, which stocks designer brands such as Pauls Boutique, Lipsy, Superdry and Henleys, will open a 3,350 sq ft store on a 10-year lease.

Sports and casual wear JD Sports Fashion has agreed a 10-year lease and an upsize to a new 6,700 sq ft shop alongside Bank.

H Samuel will upsize to a dual frontage 3,500 sq ft store and will re-open its doors in time for Christmas.

Finally, Internacionale has opened a new store after signing a five-year deal on a 3,300 sq ft shop.

Buckle said: “The new deals are coming thick and fast this year which is phenomenal news for shoppers in Sunderland.”

“These five new deals follow hot on the heels of Starbucks, Schuh, Pandora, Disney and Blue Inc – all leading national retailers which have proven to be great assets to our portfolio, as well as heightening our shoppers experience and providing a boost to the Sunderland economy.”

“It’s really encouraging that we’ve established a momentum in bringing big named retailers into the centre but also that our existing retailers are trading exceptionally well resulting in them upsizing to much larger retail space.”

Fawley Watson Booth and Lunson Mitchenall advise Land Securities.

annabel.dixon@estatesgazette.com

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Land Securities plans to submit proposals for a £15m extension to its Bridges centre in Sunderland for a Primark anchor store next month. The £15m expansion will allow the REIT to deliver a three-storey shop for Primark if approved. Work is scheduled to start in 2011. Jonathan Buckle, portfolio manager for the Bridges, said: “Primark has outgrown its existing store, located on Fawcett Street and are very keen to remain in the city.” “The Bridges is fast becoming a fashion hub and with the likes of Bank, H&M, New Look, Top Shop, River Island and Schuh already part of the retail offer we are confident that this is the right location for the brand new Primark store.” Land Securities has also agreed five new retailer deals totalling 24,000 sq ft at the shopping centre. Budget retailer, Poundworld is taking a 9,000 sq ft shop on a 10-year lease. Clothing retailer Bank, which stocks designer brands such as Pauls Boutique, Lipsy, Superdry and Henleys, will open a 3,350 sq ft store on a 10-year lease. Sports and casual wear JD Sports Fashion has agreed a 10-year lease and an upsize to a new 6,700 sq ft shop alongside Bank. H Samuel will upsize to a dual frontage 3,500 sq ft store and will re-open its doors in time for Christmas. Finally, Internacionale has opened a new store after signing a five-year deal on a 3,300 sq ft shop. Buckle said: “The new deals are coming thick and fast this year which is phenomenal news for shoppers in Sunderland.” “These five new deals follow hot on the heels of Starbucks, Schuh, Pandora, Disney and Blue Inc – all leading national retailers which have proven to be great assets to our portfolio, as well as heightening our shoppers experience and providing a boost to the Sunderland economy.” “It’s really encouraging that we’ve established a momentum in bringing big named retailers into the centre but also that our existing retailers are trading exceptionally well resulting in them upsizing to much larger retail space.” Fawley Watson Booth and Lunson Mitchenall advise Land Securities. annabel.dixon@estatesgazette.com To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.