DFS expands with British Land
Published: 04 July, 2011
Hercules Unit Trust (HUT), managed by Schroders and advised by British Land, has announced that leading sofa specialist, DFS, is to open 35,000 sq ft of new stores at two of the portfolio’s key retail parks.
At Valentine Retail Park in Lincoln, DFS is creating a 20,000 sq ft store and, at Mostyn Champneys Retail Park in Llandudno, North Wales, the brand is to open a 15,000 sq ft store. Both will open in late November.
At Valentine Retail Park, DFS joins Next Home, Asda Living, Dreams and TK Maxx in creating a critical mass of homeware retailers. At Mostyn Champneys Retail Park, DFS adds to a line-up that includes Currys, Homebase, Argos and Halfords.
Ed Cree, the asset manager at British Land responsible for Valentine Retail Park and Mostyn Champneys, said: “These two new DFS stores are great examples of British Land’s innovative asset management in action. We work very closely with brands such as DFS, which means that we can help the strategic growth of their business by providing the right stores in the right locations at the right time.”
Jon Massey, chief operating officer at DFS, added: “We are delighted to have added these two new stores to our portfolio. Both retail parks trade well, serve strong catchments, and are well managed. Consequently, they provide us with a great platform from which to grow the DFS brand in their respective regions.”
Cushman Wakefield and Morgan Williams acted for British Land in Llandudno, and Morgan Williams and Harvey Spack Field represented British Land in Lincoln. BNP Paribas acted for DFS.
