Rent review progresses at Merseyway

Eleven national retailers have renewed leases at Stockport's Merseyway Shopping Centre, managed by GVA on behalf of Bradford & Bingley.

Letting agents Savills and Tushingham Moore report the centre is nearly 100% full, with only four of 104 units vacant.

Amongst the national operators that have recently renewed is health and beauty retailer Superdrug, chocolatier Thorntons, newsagent W H Smith and jewellers Beaverbrooks, all of which have committed to new leases.

One of the UK's most recognised British shoe stores, Clarks, announced it is to undertake a major refurbishment of its store at the centre following its renewal of a 10-year lease, and the Post Office has agreed to a further 15-year lease at Merseyway.

Mark Rawstron, managing agent for Merseyway at GVA, said: "It's hugely encouraging to see retailers committing to lease renewals as the investment in the centre pays off. Attracting more shoppers to the centre and helping national retailers generate business is key to a successful town centre. We are reminded regularly that we are in recession, so for retailers to be renewing leases at Merseyway rather than closing their doors proves that business can thrive in Stockport."

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