Quadrant Estates also secures JD Sports at key regional retail park
Quadrant Estates, the asset manager of Birmingham’s key regional retail park, Gallagher Shopping Park, has landed another two high profile tenants, having secured lettings to Ds, a leading furniture retailer in the UK and Ireland, and JD Sports, a major trainer and sports fashion retailer in the UK.
Dfs is taking a new lease on a 15,000 sq ft unit for its latest flagship store at Gallagher Shopping Park. Dfs will occupy 12,500 sq ft on the ground level of this new build unit. Its other brands Dwell and Sofa Workshop will share the unit. Dwell will occupy 8,000 sq. ft. of the mezzanine and Sofa Workshop will occupy 2,500 sq ft at ground level. Planning consent has recently been granted.
JD Sports has taken a 10-year lease on a 7,000 sq ft unit at Gallagher Shopping Park, which will include a further 3,000 sq ft mezzanine. This unit will link the two main terraces at this scheme, and will create improved connectivity alleviating existing parking and access issues at the Park. Work on the unit commenced in December and is scheduled for completion in May 2017.
These are the latest major brands to join an already impressive tenant line-up at Gallagher Shopping Park. In June 2016 Quadrant Estates announced it had secured a series of lease agreements (a combination of new leases and lease extensions) with ten major brands, including Currys, M&S Simply Food, Tapi Carpets, Oak Furnitureland, Sofology, Nandos, Costa Coffee and Smashburger.
Gallagher Shopping Park, acquired by KKR and Quadrant Estates in June 2014, is immediately adjacent to the motorway junction (J9) and benefits from a dense population catchment. The 200,000 sq ft retail park already has a strong mix of high profile tenants including Next, TK Maxx, Outfit, Mamas and Papas, Boots, Furniture Village, SCS, Harveys, Burger King and Pizza Hut.
Quadrant Estates’ partner James Bidwell said: “Dfs and JD Sports are fantastic additions to Gallagher Shopping Park’s line-up of leading leisure and retail brands. Our plans to invest and revitalise the Park are coming to fruition. Works on the Park will be completed in early summer 2017, and a number of new tenants will open for business at the same time. Overall the combination of improvements to the Park and the quality of the tenant mix will help to ensure that Gallagher Shopping Park improves its position as a dominant out of town retail offer in the West Midlands,” concluded Bidwell.
Montagu Evans and Wilkinson Williams acted for Quadrant Estates and KKR. BNP Paribas acted for dfs.