retail

Flurry of new retail and leisure lettings secured at L&G’s Grosvenor Centre, Northampton

Q1 2017

LGIM Real Assets (L&G) has announced a string of new lettings at Northampton’s Grosvenor Shopping Centre, further enhancing the vibrancy of both the shopping centre and Northampton Town Centre for its shoppers and residents.

The most recent deals include an upsizing of Superdry on the ground floor and a new letting to The Entertainer, the fastest-growing multichannel high street retailer in the UK, who will open a brand new store in April on the first floor.

The new Superdry store, located opposite Primark, will double the size of the existing store to 5,000 sq ft and the expansion will allow the brand to offer a far wider range, including showcasing Superdry’s latest store concept as seen in Manchester’s Arndale Centre. Meanwhile, The Entertainer has signed for a 3,050 square foot store on a 10-year lease in the former Vision Express unit, in a prime location on the upper mall.

Other new lettings exchanged or completed recently include Office, Cards Direct, Loungers, Select and regional coffee operator Bewiched, as well as upsizes to Deichmann, Vision Express and Warren James.

In addition, 2016 saw long-term commitments from retailers to the Grosvenor Centre with Accessorize, Michael Jones, Three, Lush and Quiz Clothing all renewing their leases. Other retailers such as Pandora and McDonalds have also decided to re-fit their stores, with others in the pipeline.

James Whitehill, senior fund manager at L&G, said: “These new lettings further advance our aspirations to enhance the vibrancy of both the shopping centre and Northampton Town Centre, in addition to providing new jobs to the town.

“We have already brought Next and Primark to the centre and substantially refurbished the scheme, which, along with these new deals has cemented the Grosvenor Centre’s position as a competitive regional centre. In addition to L&G improving Northampton’s shopping and leisure experience, the University of Northampton is also due to deliver its new Waterside Campus in 2018 and plans are progressing for a new mixed use and leisure scheme on the Greyfriars (former Bus Station) site immediately to the north of the Centre, so these are exciting times for Northampton!”

Rob Williams, head of retail agency and development at Strutt & Parker, said: “Securing Office last year was a great result for the Grosvenor Centre and upsizing Superdry, Deichmann and Vision Express to name but a few credits the impressive trade our retailers enjoy in Northampton.”

Strutt & Parker and Knight Frank are leasing agents for L&G. MMX is carrying out all professional work for L&G.