Friday, 10 July 2015
Redefine International secures over 2,787 m² of retail lettings (UK)
Redefine International, the income focused UK REIT, has secured over 30,000 ft² (2,787 m²) of retail lettings in 2015, bringing the total occupancy of its retail portfolio to 98.2% (by ERV). Redefine owns six shopping centres throughout the UK including Weston Favell in Northampton, Grand Arcade in Wigan, St. George’s in Harrow and Birchwood in Warrington.
New Look, Sports Direct and Costa Coffee are some of the high profile brands which have taken space in Redefine’s centres so far this year. Sports Direct has taken a 6,060 ft² (562.9 m²) store at Birchwood in Warrington, which has also welcomed new value fashion retailer Pep&Co (3,292 ft², approx 305.8 m²) and where Card Factory has upgraded to a 1,612 ft² (149.7 m²) unit to support consumer demand.
Adrian Horsburgh, Property Director at Redefine International, commented: “So far this year, we have seen a strong flurry of letting activity which has led to occupancy reaching its highest ever level across Redefine International’s UK Retail portfolio. This is the culmination of considerable work from our asset management team, but also a reflection of increasing confidence, particularly among the value retailers.
Source: FTI Consulting