SGS reveals host of new lease deals
SGS has said the deals are a โtestament to the unique strengths that these centres continue to offer retailers and leisure providersโ
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SGS, the property company that manages four UK retail and leisure destinations – Lakeside, Atria Watford, Braehead and Victoria Centre – has announced a string of lease renewals, extensions and new deals.ย
One of the deals, will see Apple renew its lease on a 5,502 sq ft space at its Lakeside venue located in Grays, England.ย
In addition, the tech company will also renew its lease on a 8,125 sq ft space at Atria Watford and extend its lease on a 5,700 sq ft store at Braehead, located in Renfrew, Scotland – both of these sites will also see fashion retailer River Island renew its lease.ย
The company also confirmed that its Lakeside venue will welcome Boom Battle Bar โ a 14,779 sq ft adventure bar โfilled with games and activitiesโ.ย
Braehead has also welcomed two new tenants. Pancake restaurant Stack and Still has signed a deal to lease a 3,900 sq ft space and furnishing company TDR Furniture, has taken on a 10,150 sq ft space which will open at its retail park.ย
SGS has said the deals are a โtestament to the unique strengths that these centres continue to offer retailers and leisure providersโ. Occupancy across the four centres currently sits at 95%.
Steve Gray, head of European retail asset management at Global Mutual, asset manager for SGS said: โWe are delighted to welcome a host of new and exciting brands across our centres, and to renew terms with a number of our high profile existing tenants โ setting a positive tone for the year ahead.
โThe news means we continue to make excellent progress against our three core strategic objectives – improving rent collection, securing our anchor tenantsโ leases and adding exciting new footfall drivers to our centres.โ
He added: โDespite the continued disruption brought by lockdowns, physical retail remains a central pillar of brandsโ long-term strategies, key to driving sales online as well as in-store. We have seen continued interest in our space from prospective tenants and have a number of further exciting deals in the pipeline.โ