Multi Development UK Ltd (formerly AM Development) has secured department store Debenhams to anchor its Summer Row regeneration scheme in Wolverhampton. The retailer will trade from 70,000 sq ft (6.500 m²)(gross lettable area 105,000 sq ft)(9.755 m²) over three trading levels and will be located at the corner of Temple Street and Worcester Street in the City. Debenhams is the first retailer to commit to Summer Row, Multi Developments £265 million (€387 million) showpiece regeneration scheme in Wolverhamptons city centre. The store is Debenhams first in the City.
The 600,000 sq ft (55.740 m²) retail-led mixed-use development will significantly enhance the Citys retail reputation. Summer Row and other high profile regeneration schemes are establishing the city as one of the Midlands first choices for shopping, leisure and living. Summer Row will offer shoppers an exciting shopping and leisure experience in a modern environment with open-air pedestrian streets and squares and attractive façades.
Hailed as Britains favourite department store, Debenhams offers a unique mix of exclusive own brands including Designers at Debenhams, international brands and concessions. Their unique mix of premium brands at affordable prices differentiates Debenhams from other retailers. In total Debenhams sells over 500 international brands and are the UKs number one retailer of many international brands including Clarins and Yves Saint Laurent; Denby, Meyer, Portmeirion and Le Creuset; Ben Sherman; Playtex and Lepel.
Rob Hadfield, Acquisitions Manager at Debenhams said, We are delighted to have signed the deal for the new store in Wolverhampton. This will give us the opportunity to bring the Debenhams brand to the City for the first time and along with the rest of Summer Row it will significantly boost the overall retail offer in Wolverhampton.
Councillor Peter Bilson, Cabinet Member for Economic Development and Strategic Housing, Wolverhampton City Council said, I'm delighted to welcome Debenhams to Wolverhampton and am confident that their aspirations will match those of this City. Growth and investment are at record levels both in the City centre and surrounding areas so there has never been a better time to invest in Wolverhampton.
Paul Sargent, Multi Developments UK Managing Director comments on the signing: We are thrilled that Debenhams have committed to anchor Summer Row. The schemes main anchor acts as a catalyst for the leasing strategy and the future success of the project as a whole. The anchor sets the standard for the type and quality of retailer we are trying to attract to Summer Row. Attracting Debenhams to Wolverhampton will serve to enhance the profile of the City on a regional and national level aiding in the proposed regeneration process. Now that we have the anchor tenant secured, we can now proceed with securing the next tranche of retailers for Summer Row. Investor interest in the development is strong, whilst the development process relating to the start on site in 2007 is
moving at a positive speed.
Summer Row is already experiencing strong retailer demand as the design and layout offers retailers a quality modern retail environment, contemporary floor layouts and easier access. Shoppers will benefit from direct links to Summer Rows basement car park, which has space for 780 cars.
Multi's in-house architects, T+T Design, The Netherlands, developed the concept, which is being evolved by architects Lyons+Sleeman+Hoare of Hampshire. Donaldsons London acted for Multi Development. Construction will start on site in 2007.
Source: Multi Development