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4 NEWS ... In brief Wereldhave sells UK shopping centres


All change at Brandspace Experiential and promotional space specialist Brandspace has welcomed a new managing director, relaunched its website and announced a spate of new contract wins. Michelle de Young has taken over as managing director after Paul Soanes left the company in November last year. She previously held sales and marketing roles at Carphone Warehouse and at Debenhams magazine, the Guardian and Observer newspapers. Brandspace is also recruiting new staff.


Southside heads outdoors Metro Shopping Fund, Land Securities and Delancey’s retail joint venture, has signed two of the country’s leading outdoor clothing and equipment specialists, Trespass and Cotswold Outdoor, at its Southside shopping centre in Wandsworth. The deals will see the retailers take over 11,000 sq ft of space and come as part of a wider £50m investment drive to create new retail frontage along Garratt Lane.


Drake Circus nets four Four new tenants have signed at the 570,000-sq ft Drake Circus shopping centre in Plymouth. Unisex fashion retailer Bank has signed for its first store in Plymouth with 5,345 sq ft. Also new to the area is The Fragrance Shop which has taken 872 sq ft. British jeweller and watchmaker Ernest Jones is due to occupy a 1,984-sq ft unit, and will be joined by Everything Everywhere, which will take 2,387 sq ft. All four retailers have signed 10-year leases.


SHOPPING CENTRE FEBRUARY 2013


Dutch investor Wereldhave has sold the Ealing Broadway shopping centre and the Dolphin Centre in Poole, Dorset, raising over £200m. Legal & General Property bought the Poole centre for £57.7m reflecting a net initial yield of 7.81 per cent. The Dolphin centre dominates Poole’s retail offer with 430,000 sq ft of covered retail space, arranged over three levels, together with open streetscape areas. The scheme is anchored by Marks & Spencer, Primark, Boots, BHS and Beale’s department store, and contains a total of 119 retail and leisure units.


Briant Champion Long


Lavazza brews up UK expansion


Lavazza Espression, a new coffee shop concept from Italian brand Lavazza, has appointed Cushman & Wakefield to advise on its expansion across the UK. Lavazza already trades in the


Trafford Centre and it will shortly open in Westfield Derby, Trinity Leeds, London and Newbury. Lavazza is looking to roll out the concept across the UK and has appointed Cushman & Wakefield to search for units in up to 400 new locations in the next 10 years.


Specifically, 50 stores are planned to open in Greater London in the next three years. Lavazza will open its first shop in the capital on Villiers Street in April and on Cannon Street in June.


represented Legal & General Property and Cushman & Wakefield acted for Wereldhave. At the same time British Land has bought the Ealing Broadway shopping centre in West London from Wereldhave for £142.5m. The deal, structured through a share acquisition, represents a net initial yield of 6.9 per cent. The centre has 300,000


sq ft of retail and leisure space including a Virgin Active gym, 800 car parking spaces and a multi-let office building. The 7.5-acre freehold shopping centre, which has recently been refurbished and has over 60 retail units, is anchored by


Primark, Marks & Spencer, Tesco, River Island and H&M with other occupiers including Boots, Jack & Jones and Wagamama. Jackson Criss and Strutt & Parker acted for British Land.


Primark to anchor St David’s


Primark is joining the line up at Intu and Land Securities’ St David’s, Cardiff, with an 86,000- sq ft store, increasing its existing presence in the Welsh capital by more than 80 per cent. The new store will open by summer 2014. At the same time Fossil has


signed up for a 2,205-sq ft store on the lower floor of St David’s, adjacent to Mango and opposite Pandora. It is due to open in May. Other new openings in recent months include the first stores in Wales for Hamleys, A|X Exchange, Cosy Club and Crepe Affaire.


Joanne Skilton, retail and


leasing director for Intu, said: “This letting complements the incredibly strong fashion and clothing offer within the centre which our 39 million annual shoppers really love. It comes on the back of a fantastic year of deals for the centre reinforcing how important St David’s is for retailers wanting flagship stores in key retail locations like Cardiff.” St David’s is advised by Cushman & Wakefield and Jones Lang LaSalle, while Fossil was represented by Harper Dennis Hobbs.


www.shopping-centre.co.uk


Photo: Chris Sampson


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