Aberdeen Asset Management has secured nine new leading retail and leisure brands to join Surrey’s leading retail and leisure park, Two Rivers, Staines-upon-Thames. The scheme is jointly owned by client funds of Aberdeen Asset Management and M&G Real Estate. The record stream of lettings has seen over 7,850 m² (84,500 ft²) of new space exchange in less than 12 months, bringing the scheme to 99% let and includes a much greater catering and leisure offer.
Casual dining brands Wagamama and Gourmet Burger Kitchen have taken 350 m² (3,760 ft²) and 325 m² (3,500 ft²) respectively, splitting a unit previously occupied by Gap, both on 20 year leases. The new restaurants join T.G.I. Friday’s which exchanged on a 15 year lease for a 670 m² (7,190 ft²) unit, adjacent to Vue cinema, and is one of the largest restaurants in the chain’s portfolio. In addition, café operators Pret A Manger and Kaspa have both joined the line-up taking a combined 600 m² (6,450 ft²) of new space.
The restaurants will sit alongside new retailer brands including Next, which will occupy the 4,700 m² (50,500 ft²) former Tesco unit on a new 10 year lease, Pandora, which has signed for a 290 m² (3,115 ft²) unit on a 10 year lease, and SWAG Jewellery which has taken on a five year lease on a 160 m² (1,700 ft²) unit. In addition, homeware and household retailer Wilko has agreed a deal for 750 m² (8,100 ft²) of space on a 15 year lease and Pure Gym, has taken an assignment of the former Virgin Active site.
Simon Moscow, Aberdeen Asset Management, commented: “We continue to adopt a proactive asset management strategy to ensure the tenant mix meets the demands of the catchment. The scheme boasts a strong occupier base, but we are always seeking opportunities to improve and grow this.
“We recognised a high demand for an increased catering and leisure provision, and accordingly have been working very closely with our agents at Lunson Mitchenall and Morgan Williams to meet this requirement. We are delighted that this is now coming to fruition, and with this latest flow of leasing initiatives, we are confident this will help create a stronger balance of food and retail in the town.”
The 35,300 m² (380,000 ft²) scheme is situated in Surrey and is anchored by Waitrose, Boots, Next, TK Maxx, and Vue cinemas.
Lunson Mitchenall and Morgan Williams are the joint agents for Two Rivers. Wagamama was represented by JLL, GBK were represented by CWM, CBRE acted on behalf of TGI Friday’s, Curson Sowerby acted for Next, Harvey Spack Field represented Wilko, Pret were represented by Louis Sadler, Stephen Kane & Co acted for Pandora.
Source: Aberdeen Asset Management
