London, 2017-May-15 — /EPR Retail News/ — British Land, joint owner of Meadowhall, Yorkshire’s premier shopping destination, has announced five new lettings to Flannels, Neal’s Yard, Godiva, Tag Heuer and Nespresso, plus four store redesigns by House of Fraser, All Saints, Hollister and Hugo Boss.
These lettings and redesigns complement the centre’s £60m refurbishment which is currently underway, as well as the £16 million retailer investment made by 42 brands that have redesigned stores since the start of the refurbishment last year. A further 31 store reformat projects are currently taking place, due to complete in line with the culmination of the refurbishment programme towards the end of the year.
New openings
- Located on Meadowhall’s prominent Park Lane mall, leading luxury retailer, Flannels, will open a 10,000 sq ft store in May. The store will offer a range of luxury men’s and women’s designer fashion items from brands such as Vivienne Westwood, Hugo Boss, Stone Island, Belstaff and Paul Smith.
- Opposite Flannels, organic natural health and beauty retailer Neal’s Yard will open a 700 sq ft store in the summer with a therapy room for wellbeing treatments.
- Luxury Belgian chocolatier, Godiva, joins the line up with a 1,700 sq ft experience-led concept store in August, located on Meadowhall’s High Street next to North Face and Bose. The space will include a café and a boutique showcasing the brand’s chocolate artistry and products.
- Located next to Goldsmiths and opposite Reiss, luxury Swiss watch manufacturer, Tag Heuer, will open a 1,820 sq ft store, its largest in the UK.
- Following the successful launch of its first regional kiosk in Meadowhall, Nespresso, the market leader in premium portioned coffee, will open a permanent 1,200 sq ft store in Park Lane next to L’Occitane and Jigsaw.
Refurbishments
- Department store, House of Fraser, will undergo refurbishments completing in September this year and introduce new brands to the store including Kate Spade and Ralph Lauren handbags.
- British fashion retailer, All Saints, will install a new double height shop front in its 6,800 sq ft store.
- American lifestyle brand, Hollister, has regeared its lease and will refurbish its 7,500 sq ft store and install a new double height shop front.
- Hugo Boss has refurbished its 5,200 sq ft store located next to Diesel and House of Fraser to showcase its new menswear brand.
Richard Crowther, Asset Manager for British Land, said: “Our strategy is to ensure Meadowhall’s offer reflects consumers’ changing modern lifestyles. Attracting these premium brands to the line-up achieves this objective and is a great endorsement of the enhanced environment we and our occupiers are creating at the centre.”
Jenna Triscott, Marketing Manager for Flannels, added: “Meadowhall’s affluent and loyal customer base with a desire for designer brands, made it the perfect choice when selecting the location for our debut store in the region. We look forward to opening our new store within Meadowhall’s prestigious Park Lane and joining this thriving retail community.”
In addition to the latest signings and upsizes from premium and aspirational brands, fashion favourite, River Island, will be upsizing and refurbishing its store creating a new 21,000 sq ft unit. The news also complements a strong period of leasing at Meadowhall with the announcement of eight new retail signings and upsizes for Primark, Sports Direct, Wilko, Timberland and schuh kids, along with the UK flagship for Second Cup, totalling 90,000 sq ft of space over the last 6 months.
CBRE, Smith Young and Davis Coffer Lyons acted for Meadowhall. Rawstron Johnson and Ewan Mackay Property Consultants represented Flannels and Neal’s Yard respectively. CBRE and Harper Dennis Hobbs represented Nespresso and River Island respectively. Hartnell Taylor Cook and JLL represented Hollister and Godiva.
We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.
Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.
Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop, eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.
Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and high quality standalone buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.
Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.
Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value through energy generation and efficiency, materials innovation and flood risk reduction and we develop skills and opportunities to help local people and businesses grow.
In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over the last five years.
Further details can be found on the British Land website at www.britishland.com.
Enquiries:
Investor Relations:
Jonathan Rae
British Land
020 7467 2938
Media Relations:
Jackie Janssen
British Land
020 7467 3449
Pip Wood
British Land
020 7467 2838
Amanda McNally
Aver
020 3514 2137
Nick Thornton
Aver
020 3514 2148
Source: British Land