M&G Real Estate, one of the UK’s largest property investors, has secured five new lettings at The Galleries shopping centre in Washington, Tyne and Wear. Pandora, Dawson & Sanderson, Urban, Morfose and Fizzylicious join the town centre’s established line-up of international and national brands, while existing tenant TimeCheck has renewed its commitment with a new lease on a larger store.
The North East franchise of international jeweller Pandora will take a 1,150 sq ft store, regional travel agent Dawson & Sanderson will occupy 1,182 sq ft, local Morfose Turkish Barbers will take a 405 sq ft unit, and specialist bath and body product retailer Fizzylicious has signed to take 500 sq ft. All four tenants have signed 10-year leases.
Regional men’s fashion retailer Urban is also a new entrant to the centre and will take 1,337 sq ft on a 5-year lease, while existing tenant, watch and clock brand retailer, TimeCheck will occupy a larger store of 441 sq ft on a new 5-year lease.
With all five brands in expansion mode across the North of England, and TimeCheck having been at the centre for 26 years, the new lettings demonstrate retailer confidence in the North East town as a retail hotspot. With more than 750,000 sq ft of shops, restaurants and leisure attractions, The Galleries welcomes approximately 14 million visitors each year and is bucking the trend with close to full occupancy, and continued national and regional retailer interest.
Chris Poole, Asset Manager, M&G Real Estate commented: “While the Galleries is home to some of the UK’s leading high street names, the centre is also experiencing increased interest from the region’s most exciting, growing brands. Our active asset management strategy has ensured the centre accommodates spaces for retailers with very different sets of requirements and we’re pleased these five new brands have chosen The Galleries to further increase their physical store presence in the region’s town centres.”
Rawstron Johnson acted for M&G Real Estate. Dawson & Sanderson was represented by Lambert Smith Hampton, Stephen Kane & Company acted for Pandora, and Urban, Morfose, Fizzylicious and TimeCheck were unrepresented.
