Landsec scores as JD Sports signs four new leases

Landsec has signed leases with sports retailer JD Sports totalling 120,000 sq ft at four of its shopping centres. At St David’s Dewi Sant, Cardiff, the retailer has taken 32,000 sq ft for 10 years. This year St David’s saw 10 new lettings and expansions, including Sosandar, Søstrene Grene, and a flagship Pull & Bear, along with plans submitted for a new city square. At Buchanan Galleries in Glasgow, JD is set to nearly triple its store size, moving into a 29,000 sq ft store. Both Cardiff and Glasgow stores are due to open next year. At White Rose in Leeds, JD has more than doubled its footprint, expanding into a 30,000 sq ft space that opened in November. This marks the next phase of its 20-year presence at the centre, joining brands such as M&S, which have also upsized there. While at Bluewater, Kent, the sportswear retailer upsized into a recently opened 30,000 sq ft store. The signings follow Landsec’s half-year results, which highlighted strong performance across its top-tier shopping centres, attracting more than 135m visitors and generating £2.5bn in annual sales. In the first half of the year, Landsec signed or was in solicitors’ hands with £26m in lettings, achieving an occupancy rate of 96%, higher than pre-pandemic levels. Continued strategic investment in its portfolio is expected to boost footfall and dwell time, offering brands an opportunity to grow. Pablo Sueiras, head of brand account management at Landsec, said: “Through our strategic investment into prime retail destinations, we continue to attract the biggest and best brands. “These lettings are testament to the strength of our retail destinations and our ability to attract and grow brands across the UK, in turn providing an enhanced experience for our guests.” James Air, director of group acquisitions at JD Sports, said: “Our strategic expansion within prime retail locations across the UK underscores our commitment to continually improving the shopping experience for our customers. Landsec are an important partner to JD and have actively worked with us to deliver best in class stores.” CBRE acted on Landsec’s letting deal with JD at St David’s. Image of White Rose, Leeds