Victoria Leeds: The premium shopping destination’s journey of ‘transformation through accumulation’

Victoria Leeds, now under the ownership of real estate ‘disruptor’ Redical, has been on quite the journey, and 2024 was a big year for the destination.

The centre welcomed 17 brands to its tenant mix in 2024 including the likes of Le Labo, Barbour and Missoma, as well as upsizes from both Hobbs and jewellery specialist Boodles.

Aesop selected Victoria Leeds to make its Northern debut during the year, with luggage specialist Tumi and another booming fashion brand that’s yet to be revealed soon to follow, and top-performing categories included jewellery, health and beauty, and food and beverage.

And while footfall was down 2.2% year on year as a whole, it’s newer half of the shopping destination Victoria Gate noted a record year with a 2.7% rise in footfall compared to 2023.

Redical head of leasing Rachel Bradburn says the success of the centre has been built on smart, impactful changes. With sales up year-on-year in 2024, including a “stand-out Black Friday” and strong seasonal sales performance, the centre is making significant strides and is showing no signs of slowing down.

In a tour of the centre, Redical head of leasing Rachel Bradburn and centre director Jo Coburn talk Retail Week through the tenant mix, tease the new additions coming in 2025, and shed some light on how the destination plans to continue its elevation strategy.

Strategic success

At Victoria Leeds, it’s all been about elevation. A strong retail destination with history and heritage behind it, it was taken over by Redical in 2022. In the time since, Victoria Leeds has seen record footfall and agreed 38 new leasing deals, opened 26 new stores, and upsized four existing units.

It’s part of the centre’s strategy of “transformation through accumulation”, Bradburn tells Retail Week adding that it’s been exciting to see the gradual evolution of the centre. She says that pop-up shops play a huge part in this, allowing retailers to dip their toe into life at Victoria Leeds before signing on for the long-haul.

“More brands are choosing to debut with us than ever before, be it their first ever store, first out of London or regional first, they can see the value we bring,” she says.

Standing outside the vast John Lewis store, which opened in 2016 as the anchor tenant of its newer Victoria Gate part of the development, she credits its presence for the surge in footfall over recent years.

Interestingly, Bradburn says that some of the John Lewis concessions have leased their own stores in the centre but that they continue to prove a hit with the iconic brand’s shopper demographic.

And while there have been many new additions of late and many more units are set to be filled in the not too distant future, it’s athleisure that’s currently the biggest gap in the tenant mix and an area of opportunity moving forward.

The shopping centre has also evolved to become a mixed-use development, with Boom Battle Bar gearing up to open, and sitting alongside restaurants including The Ivy and new addition Caffé Concerto.

Bradburn says its evolution has not been accidental and the centre remains laser-focused on the customer experience.

She said: “Our visitors have more choice now than ever in the form of the retail, leisure and F&B mix and this is not by accident. As we know, today’s shoppers are looking for that 360 experience incorporating shopping, dining and community engagement to keep them returning.”

Location, location, location

Victoria Leeds is now not only hailed for its massive local appeal but also its growing luxury appeal with the centre being home to the likes of Louis Vuitton, Harvey Nichols and Mulberry among others. And with corner units in high demand, Bradburn says it’s all about location.

“Attracting the perfect combination of retailers and operators that resonate with your customers, giving them what they want and what they don’t know they want yet is a real art,” says Bradburn. “Luckily for Victoria Leeds, we have a clearly defined market position on a local, regional and national level, embodied by our premium brands, unique architecture and affluent catchment base.” 

“Our architecture also differentiates and elevates us from all other competition, offering brands the option of the Grade II-listed beauty of Victoria Quarter, rich with history and intricate details, or the contemporary design of Victoria Gate.

“In both these quarters, we have created an environment where premium brands want to call home.”

While it’s important for the shopping centre to house the right combination of brands, it’s also a battle among the retailers to be in a location that has complementary neighbours. The other challenge for Bradburn and her team is right sizing stores for brands’ needs.

One notable large opportunity is the empty Ted Baker store but rather than being concerned over the vast empty space, Bradburn says she’s more focused on finding the right fit for engaged, long-term success, showing it’s all about slow and steady progress at Victoria Leeds.

“Now more than ever, the customer experience is the defining factor in retail success. Shoppers today know exactly what they want—they have high expectations and value the convenience of finding complementary brands and services all in one place,” Bradburn adds. “That’s why every aspect of our strategy, from curating the right brand mix to crafting engaging promotional plans, is designed to elevate their experience and create real connections.”