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4 апр. 2023 г.
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Lakeside and Victoria Centre owner reports strong leasing activity

Опубликовано
4 апр. 2023 г.

Shopping centres owner SGS, which controls Lakeside in Essex, Atria Watford, Braehead in Glasgow, and Victoria Centre in Nottingham, has reported a strong performance for 2022, claiming occupancy and footfall outperforming its peers.


Lakeside


 
It listed key highlights for last year’s strong gains, with around 100 leases agreed, (including H&M, Next, Flannels, TK Maxx, Calvin Klein, Hugo Boss, Pandora, Zara and other Inditex brands); deals on the former Debenhams anchor units at Lakeside, with M&S signing for the space; and Atria Watford, where Next has opened its largest UK store.
 
At Braehead, Superdrug is opening a new, expanded store this week, with the health & beauty retailer relocating and upsizing to an 11,000 sq ft space, while at Atria Watford, menswear retailer Moss (formerly Moss Bros) has just opened a 2,271 sq ft on the upper mall.

A further 50 deals are in advanced stages of discussion across the centre, it also noted.
 
Occupancy is also ahead of forecast at 86%, with new leases signed during 2022, seeing this increase to 88% once those tenants have moved in. Meanwhile, footfall is eight percentage points higher than Springboard’s benchmark across 2022 as a whole. 
 
It also included the rolling out of its new ‘Retailer Information Portal’, “capturing more comprehensive data around tenant sales, profitability and areas of over-spend and under-spend”.
 
Importantly, the company also updated on strategic priorities linked to its three-year business plan, which has been approved by the group’s investors. The business plan includes more than £130 million of investment in the SGS shopping centres and key tenant relationships. 
 
Steve Gray, Head of European Retail Asset Management at Global Mutual, said: “We saw rent collection stabilise – providing us with a firm financial footing and a platform for growth. While some headwinds remain, we are confident in our outlook, and in the resilience of our market-leading assets.”

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