11 March 2010
For property and regeneration professionals

ING Britannica makes room for New Look

5 Feb 2010, 12:55

New Look has expanded and relocated at the Strand Shopping Centre in Bootle town centre.

The clothing retailer has relocated from a 2,318 sq ft unit to a newly developed 8,638 sq ft unit within the Hexagon area of The Strand on a new 10-year lease. This area previously consisted of a number of irregular shaped units.

The Strand Shopping Centre totals 415,000 sq ft of retail space in 135 units, anchored by Marks & Spencer, TJ Hughes and Tesco.

Steven Gay, head of asset management for Britannica, said: "This is a good example of our active asset management of the centre. The much larger trading space we have provided for New Look gives our shoppers a better fashion offer within the centre and improves the retail pitch in what was a quiet part of the scheme. The former New Look shop is in prime pitch and should readily let to another good retailer.

"From an investment perspective, New Look are a good tenant with a strong covenant and this deal secures a good income stream for our investors."

ING Real Estate Investment Management operates the centre for ING Britannica.

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