New anchor tenant weighs in at Middleton Grange
Published: 01 June, 2011
Premier Property Group (PPG) has unveiled one of the UK’s retail giants as its new anchor tenant at Middleton Grange shopping centre in Hartlepool.
BHS has taken a 15-year lease, occupying 35,000 sq ft in the heart of the centre, which has over 150 tenants and 580,000 sq ft of lettable space.
PPG has also announced it is investing up to £2m to further enhance Middleton Grange and is examining a series of initiatives, including refurbishment and capital works.
“This is a great letting for the centre and Hartlepool and one that demonstrates our strong commitment to drive forward Middleton Grange,” said PPG director Lynne Higgins. We are determined to continue the reinvigoration of the centre as a destination of choice for shoppers and retailers.”
A BHS spokesman said: “We are delighted to be opening a flagship BHS store in Hartlepool, which we believe will be a key town for the brand. The all-new store showcases the brand's new corporate branding and store design, which follow successful trials last year.”
The store, which will trade over two floors with a total of 22,000 sq ft of selling space, will feature a revitalised fashion offer with separate departments for women, men and children. It will also showcase Arcadia brands Wallis and Dorothy Perkins and a new-concept cafe.
PPG has already begun work to open up and refurbish the façade of the anchor unit, which has been vacant since Woolworths stopped trading in December 2008. BHS is expected to begin trading this autumn following an extensive fit-out, increasing the occupancy rate of the centre from 80 to 86 per cent.
Higgins added: “The economic recession of the past couple of years has led to a number of vacancies being created and very difficult trading conditions generally for retailers. However, we are expecting over the next few weeks and months that further lettings to tenants new to the centre will be announced.”
