| yorkshire region
UK’S FIRST FULL-PRICE/OUTLET HYBRID CENTRE, PRINCES QUAY, RE-LAUNCHES P
rinces Quay, the 300,000 sq.ft retail and leisure destination in the heart of Hull
City Centre, has re-launched with a brand new outlet level which sees national retailer, Next Outlet, open its doors to the public. As part of the first phase of the £20m
investment into the centre, the 12,000 sq.ft Next Outlet store will anchor the new outlet deck, which re-opened its doors to the public on Thursday 22 June. The opening saw queues of people down the mall. Footfall over the first four days of trading was up 75 per cent on the same days last year. The strategic repositioning of the
centre has introduced space for 24 new retailers and, at 65% let is already set to welcome names including Ben Sherman, Sole Trader and Bench – all new retailers to Hull City Centre. The critical mass of outlet space will
span 51,000 sq.ft across the upper level of the scheme, complimenting the existing full-price provision with the likes of Topshop, River Island, Beaverbrooks, and Monsoon in place. The re-launch is the first phase in an
SCUNTHORPE
acquisition of Eastgate Park at Queensway Industrial Estate, Scunthorpe. It comprises a 68,658 sq.ft multi-let industrial estate is split into 12 units ranging in size from 2,215 sq.ft up to 15,558 sq.ft and adds to Northern Trust’s UK portfolio. Tom Parkinson, Director at Northern
N
Trust confirmed that Northern Trust had looked at a number of opportunities recently to extend their Yorkshire / Lincolnshire portfolio, and was pleased to have added a modern, well-let estate close to Scunthorpe town centre and with easy access to the motorway network. Tom commented “We continue to
look for opportunities to grow our portfolio in all our trading regions across the Midlands, North-West, North-East, Yorkshire and Scotland. Northern Trust’s existing property
portfolio comprises more than 200 individual industrial, trade and office parks, and over 3,600 individual units. The portfolio is actively managed by Northern Trust’s in-house surveying practice, Whittle Jones Chartered Surveyors (
www.whittlejones.com), who have regional offices in the Birmingham, Chorley, Wakefield and Newcastle”.
106
orthern Trust (
www.northerntrust.co.uk) is pleased to announce the
extensive repositioning project at Princes Quay, creating a new urban concept, combining the existing retail and leisure offer with a new outlet deck and has been brought about by Fund Managers, Seven Dials and Realm, as Asset and Development Managers. In addition to the new outlet retailers,
Realm is establishing a new waterfront- dining hub on the Harbour Deck, with space for seven additional restaurant and café units across 18,000 sq.ft. These will sit alongside existing dining brands including Pizza Express and Nando’s. Colin Brooks, Managing Director of
Realm commented: “The introduction of an outlet provision into an existing City Centre scheme is a first for the UK. Next, as anchor tenant for the outlet deck, has set the tone for the other retailers who have since taken space, with more lettings announcements expected in the near future. By combining outlet with full price, we are able to attract new and exciting brands to Hull, which may have otherwise not considered the city. We expect the outlet level to be 85% let by Christmas. This, when combined with the increased dining provision, will create an
THE ENERGY ESTUARY T
aking care of business and supporting business growth – this is the aim of the
Business Investment & Tourism Services within East Riding of Yorkshire Council. The Humber region has recently been
branded ‘The Energy Estuary’ following major investments in the area from companies such as Siemens. This resurgence has made the area more appealing to invest and work in. The M62 / A63 corridor offers a wealth of development opportunities, with a range of complementary employment sites, many of which have Enterprise Zone status. A new specialist business centre
developed in partnership with The University of Hull, to support the growing environmental technologies sector, is due to open in early 2018. It is conveniently located adjacent to the northern approach of the Humber Bridge. This development adds to the existing portfolio of modern centres that are placed in strategic locations throughout the region. These well managed working environments aim to encourage businesses to grow, network and strengthen the local supply chain. East Riding of Yorkshire Councils’
dedicated Inward Investment team offer a professional service to assist investors and companies looking to expand their existing operations.
C
additional footfall draw - we have already seen a high level of interest from locals and expect to see footfall numbers increase over the coming months as more and more outlet retailers open. “The increased leisure provision at
Princes Quay will transform the atmosphere and really encourage people to spend more time in this impressive waterfront location. The City Council is currently constructing the new Venue building, a 3,500 capacity music and events destination, immediately adjoining the scheme. All of this new investment will restore this location at the heart of the city to be the main combined retail and leisure destination for Hull.” A spokesperson from Next, added:
“We’re pleased to report that the store did brilliantly and has done since it opened. We currently employ 17 staff and have drafted in some temporary staff to help with customer demand. Feedback from customers has been positive and customers are loving the low price points. The staff are all a fantastic team and worked very hard to ensure we had a successful opening.”
HULL PARAGON STATION
onstruction work has now begun on four new retail / leisure pods at Hull
Paragon Railway Station with completion expected by late November of this year. Transpennine Express is funding the
development and has appointed Ryden as sole marketing agent for the terrace style shops which are situated adjacent to the main entrance to the station. The units range from 120 to 132 sq.m
(1,291 sq.ft to 1,420 sq.ft) and are being constructed to a high specification with full height display frontage. The units can be opened up to create a larger accommodation if required. The quoting rent is £55,000 per annum, although the landlord would also consider a turnover rent option. The retail development is a
significant part of Transpennine Express’ £1.4 million upgrade to the station, which also includes construction of a new waiting room and toilet facilities and an overhaul of the existing ticket office and customer service information section. Planning approval for the station’s renovation was approved last year to ensure an impressive welcome to visitors heading to the city for events as part of Hull UK City of Culture 2017.
COMMERCIAL PROPERTY MONTHLY 2017
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