tReds treads a growth path
Published: 12 November, 2013
Footwear retailer tReds is continuing its store expansion with two deals signed for new shops at Basildon and Cwmbran.
At Basildon, tReds has taken a 2,302-sq ft unit in the prime section of the Eastgate Centre, from British Land. The retailer has signed a 10-year lease with a five-year break on the unit, which is located close to Next, Top Shop and Debenhams. A base and turnover rent deal has been agreed with an 18-month package.
At Cwmbran, tReds has taken Unit 7 at The Mall from M&G Real Estate. The unit, which adjoins Top Shop and is close to House of Fraser and Jack & Jones, includes 1,355 sq ft on the ground floor and a further 1,430 sq ft on the first floor. TReds has agreed a 10-year lease with a five-year break, also on a base and turnover rent deal with an 18-month package.
The new stores are both due to open pre-Christmas and follow the launch of new outlets in Chichester, Camberley and Hastings earlier this year. The retailer, which specialises in branded footwear, has identified a range of further stores for opening in 2014, with two new retail units already in legals for completion early in the new year.
Kitchen La Frenais Morgan is retained agent for tReds in the UK. At Basildon, JLL acted for British Land and in Cwmbran, M&G Real Estate was advised by EJ Hales.