British Land has agreed seven new lettings at Meadowhall, its 100,000 sq m regional mall at Sheffield in South Yorkshire. The lettings enhance the scheme's fashion offer and underline its status as one of the highest-rented shopping malls in the UK.
Zara has taken a 1,000 sq m unit in a prime High Street location formerly occupied by Dorothy Perkins. A 15-year lease has been agreed at a rent rising to£950,000 per annum in year five. The store will open in December.
Scotland-based branded fashion retailer USC has taken an 800 sq m High Street unit on a 15-year lease at£850,000 a year.
The USC unit was formerly occupied by Sports Soccer, which is relocating to a larger unit on Market Street, on a 10-year lease at£1 million a year.
A number of smaller lettings have also been agreed, including Schuh, which has opened a 570 sq m unit, including a mezzanine on a 15-year lease, at£335,000 a year. Van Heusen has opened a new 45 sq m store, again on a 15-year lease, at an average rent of£100,000 a year.
Two more retailers due to open this autumn are Quiksilver, which has taken 315 sq m, and branded fashion retailer Monserrat, which has taken 300 sq m.
British Land director Bob Bowden said the lettings mean that Meadowhall is on target to generate£67 million a year in rent once current rent reviews are settled.
No comments yet