M&G Real Estate, one of the UK’s largest property investors, has secured three new brands for The Friary, Guildford. Zara Home, The Fragrance Shop, and sushi and hot food restaurant Kokoro have all signed up to join the shopping centre’s leading line-up of international and national brands, which already includes Zara, Superdry, River Island, Topshop and Urban Outfitters.
Zara Home, part of the Inditex Group, will occupy a 4,550 sq ft store on a 10-year lease, following M&G Real Estate’s letting to Zara last year which secured a 20,000 sq ft double-level unit at the heart of the centre for the popular fashion brand.
The Fragrance Shop, the UK’s largest independent fragrance retailer, will take a 720 sq ft shop on a 10-year lease while Kokoro has also signed a 10-year lease on a 500 sq ft food court unit.
This will be Zara Home and The Fragrance Shop’s first stores in Guildford, allowing the retailers to capitalise on the area’s growing affluent demographic and its reputation as one of the most attractive retail destinations in the South East.
Kokoro, who will retain their existing branch on North Street in Guildford, is planning further expansion in the South East with 13 existing stores currently across the region.
Scott Linard, Director of Asset Management & Leasing for M&G Real Estate, remarked: “Zara Home, The Fragrance Shop and Kokoro join an internationally-renowned line up of tenants, allowing us to cement The Friary’s reputation as one of the South East’s core retail destinations. We continue to employ a proactive asset management strategy to ensure The Friary’s position is recognised as pivotal to the retail sector’s growth in this region and continued strong levels of tenant interest mean we expect to announce further exciting lettings in the near future.”
Lunson Mitchenall and CBRE acted for M&G Real Estate.
Hynes Illingworth acted for The Fragrance Shop, Graham Tring Associates represented Kokoro and Zara Home was unrepresented.
