Westfield Stratford City now 60% let
Published: 04 May, 2010
Westfield Stratford City, the £1.45bn gateway to London’s Olympic Park, is now 60 per cent leased or committed with around 18 months to go before its 2011 opening.
At Westfield’s quarterly market update, group managing director Steven Lowy announced the key retailers now committed to larger formats within the scheme. These include: Forever 21 (6,109 sq m), Primark (6,224 sq m), Next (3,752 sq m), Topshop (3,348 sq m), H&M (3,008 sq m), River Island (1,452 sq m), Boots (2,210 sq m).
Michael Gutman, Westfield UK & European managing director said: “With stores trading so strongly at Westfield London and the striking quality of the space being constructed at Westfield Stratford City, the larger format component, which is roughly 30 per cent of the scheme’s area, is now virtually fully committed. With the anchors and larger format stores now largely in place, leasing focus is now on the specialty stores where demand has also been strong.”
Gutman added: “Leasing momentum on the 50 or so food catering units is also outstanding as food operators now appreciate the integrated dining and leisure offer we are promoting off the back of the highly successful result at Westfield London, particularly following the launch of the Vue cinema in February.”
There was more good news for Westfield London, which outperformed both the UK and Central London for the first quarter of 2010. Total retail sales at the centre were up 24.1 per cent, and up 16.5 per cent on a like-for-like basis. This is compared to a rise of 7.7 per cent for Central London on a like-for-like basis and 2.1 per cent for the UK.
