Assets News

Lettings Flurry in Liverpool

Liverpool's 535,000-sq ft St Johns shopping centre is strengthening its reputation as a hub for independents with the addition of Beauty retailer Glamour Forever and horologist Time Watch Repairs.

That's Entertainment has also taken new larger premises in the centre. At the same time Knight Frank's shopping centre leasing team has been retained as joint letting agent on St John's.

General manager Robert Bradley said: "Since the mall was refurbished with a £10m investment, along with branding and a new website, lettings enquiries from larger value fashion retailers, lifestyle brands and leisure vendors have seen a sharp incline."

And at the nearby Clayton Square Rockspring Property Investment Managers has signed two new tenants. A 3,500-sq ft unit at 18-22 Church Street has been leased to McDonald's, on a 20-year lease at an uplift of almost 40 per cent on the previous rent.

Rockspring has also concluded a 20-year lease with Bon Pan Asian restaurant, for a 13,000-sq ft unit fronting Great Charlotte Street. The two new lettings follow recent deals with Glamour Forever and Bodycare. The scheme is now 98 per cent occupied, with strong expressions of interest on the two remaining units.

Rockspring European director Kim Sardar said: "When we acquired Clayton Square we identified a number of opportunities to drive income. In just over a year of ownership, we have substantially implemented our business plan well ahead of projected timelines and secured a number of lettings which have significantly improved the income profile of the centre, and diversified the tenant mix driving footfall and increasing the vitality of the scheme."

 Rockspring was advised by Barker Proudlove and KLM.

And finally Superdry has opened a 10,000-sq ft store on Liverpool One's South John Street while Nespresso has signed for a 1,600-sq ft store on the scheme's Peter's Lane where Molton Brown has just opened a 500-sq ft store.



25 July 2018