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Prime retail is still front of mind for expanding brands

04.07.2016

Hammerson has signed seven leases totalling over 32,400ft² (3,010m²) in the past 10 days across its UK wide shopping centre and retail park portfolio.

Despite political uncertainty following the Brexit result, retailers spanning fashion, food, beauty, and homewares have committed to new retail space as they strengthen their nationwide store presence.

Quirky Danish homewares specialist, Flying Tiger Copenhagen will open its first outlet in Southampton at WestQuay with a 825m² store this summer, and lingerie brand Ann Summers is taking a 218m² shop within the shopping centre.

In Scotland, Italian cosmetics brand, Kiko Milano has chosen Silverburn as its first shopping centre location in Glasgow with a 74m² store. This will be its third Scottish location, and joining them will be heritage inspired fashion favourite, Jack Wills who will open a 295m² shop later this summer. In Aberdeen, Barburrito, the UK’s original burrito bar, will be making its debut in the city at Union Square shopping centre with a 112m² restaurant.

The leasing activity was also boosted by deals completed on retail parks with Iceland’s new concept store Food Warehouse signing up for a 929m² unit at Westwood Retail Park in Thanet, only its second store in the South East. At Brent South, carpet specialist Tapi will open a 557m² store, strengthening the retail park’s homewares line up.

David Atkins, Hammerson chief executive said: “We have had numerous conversations with our retailers post the EU referendum, and the majority remain committed to delivering their expansion plans. While the activity over the past week doesn’t provide a perfect indicator on future demand it does demonstrate initial resilience in the retail sector post the Brexit decision and is evidence that investment in prime retail locations is still a priority for brands.”

Maxwell Bacon of Percassi Group, owners of KIKO Milano said: “Our expansion into such a prominent location in Glasgow helps us to increase our brand presence in the Scottish market and provides our customers with a new store experience within this growing and strong performing Silverburn catchment.”

ENDS