A flurry of deals at the Cascades Shopping Centre Portsmouth have helped maintain occupancy levels despite fierce competition from two of the biggest shopping malls in the West.
Sole agents Colliers International have signed off a number of deals, the biggest of which has seen Primark take additional space in the former Woolworths premises next door.
Primark has just completed an extensive refit of the premises having signed a 15 year lease on part of the accommodation.
Colliers International also brokered the deal which sees fast fashion outlet Internacionale taking over a 4,000 square foot trading space created by knocking two existing units into one.
Other new arrivals include Boswells, Monsoon, gift shop Giggles, costume jewellers Sparkles, Blossom’s Beauty shop and Brunel News.
Colliers International Retail Agency Director Richard Saunders said the results proved trading levels at the Cascades Shopping Centre remained resilient despite fierce competition from the nearby Gunwharf development and also West Quay at Southampton.
He said: “Despite tough trading conditions and the presence of two major shopping malls in the immediate area The Cascades Shopping Centre Portsmouth continues to prove attractive to shoppers from Portsmouth and beyond.
“It is very encouraging to see some of these major retailers committing to the centre, drawn by the high occupancy levels and strong footfall.”
In addition to the flagship Primark store, Marks & Spencer, Bhs, Next, TK Maxx, Monsoon, H&M, JJB, Starbucks, Lush and Vision Express are all represented alongside a healthy selection of independent operators large and small.
”I think these deals show we are prepared to offer a high level of flexibility to ensure tenants get exactly the space they need in order to continue to attract large numbers of shoppers. We have shown we are able to deliver the accommodation retailers want whether it means enlarging an existing premises or downsizing to a smaller unit.
“We are not only maintaining occupancy but are seeing important new retailers coming in.”
Rhoda Joseph, Centre Director, believes the strong primary catchment penetration and expanding appeal of the centre since its extensive refurbishment make Cascades a strong contender.
She said: “Footfall has held up in the last two years and many of the retail brands are regularly reporting being in the top performance categories of their business. Customers tell us they now visit Cascades Shopping Centre as their first choice.”
