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Friarsgate, Lichfield |
Corporate changes at Debenhams and House of Fraser appear to have given new impetus to the department store chains' acquisitions programmes with a string of pre-lettings at schemes across the country.
Debenhams' return to the stock market and House of Fraser's acquisition by Baugur were swiftly followed by new acquisitions with House of Fraser signing up as the sixth and final anchor at Westfield London, the renamed White City scheme, and Debenhams signing to anchor schemes in Barnsley and Lichfield. At Westfield London, House of Fraser will occupy a 103,000-sq ft three-level store.
House of Fraser executive chairman Don McCarthy said: "We have been selectively looking at opportunities where we can find our niche and growth potential in the market and we believe that the combination of the demographics and the scheme will be an excellent choice for House of Fraser."
The company also has stores under construction in Belfast and Bristol.
At the same time Debenhams has signed up to anchor two more centres, with deals in Barnsley and Lichfield.
In Barnsley Debenhams has committed to taking a 94,000-sq ft full range department store in the £235m Barnsley Markets development, being promoted by the 1249 Regeneration Partnership, a joint venture between Ashcroft Estates , Wilson Bowden Developments and Guildhouse Group.
The project is due to start on site in early 2008 and is expected to open in 2011. It involves the creation of 475,000 sq ft of new retail and leisure facilities in the town centre and a purpose built markets building. The 1249 Regeneration Partnership is being represented by Churston Heard and Colliers CRE.
And in Lichfield, Staffordshire, Debenhams has signed up for S Harrison's £95m Friarsgate mixed-use development. The 65,000-sq ft two-level store will anchor the 250,000-sq ft retail element of the 400,000-sq ft scheme on the city's Birmingham Road.
Retail agents for Friarsgate are Nicholas Robinson & Partners and Fawley Watson Booth. Leisure agents are Christie & Co.
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