Property News - Modus adds key tenants for Wigan's Grand Arcade

Modus Property has signed three more key tenants for Grand Arcade, its 400,000 sq ft (37,160 sq m) shopping centre development in Wigan, Greater Manchester.

Although the scheme is not scheduled to open until summer 2006, the latest deals - with Bhs, Next and JJB Sports - mean it is 60 per cent pre-let.

Research by Management Horizons Europe shows the scheme will lift Wigan from 131st to 84th in the national retail hierarchy. The tenant line-up already includes a 100,000 sq ft (9,290 sq m) store for Debenhams and 50,000 sq ft (4,645 sq m) for Marks & Spencer.

Bhs is taking a 25-year lease on the 40,000 sq ft (3,715 sq m) unit 1 at£446,570 a year. The two-storey unit is in a prominent location at the main entrance to the scheme. Next has signed a 15-year lease on the 14,400 sq ft (1,338 sq m) unit 2 at£175,000 a year. And the 20,000 sq ft (1,860 sq m) unit 5 has been let to JJB Sports on a 25-year lease at£220,000 per annum.

Modus Properties managing director Brendon Flood said: 'By generating a high concentration of multiple retailers and a new prime pitch for the city, Grand Arcade promises to transform Wigan's retail offer. Work can now begin in earnest on the site in September.'

Lunson Mitchenall is the letting agent.