Gallagher Shopping Park secures major new tenants
A Black Country retail park has secured two new letting as it undergoes a major expansion.
Quadrant Estates, asset manager of the Gallagher Shopping Park in Wednesbury, has signed deals with furniture group DFS, and sports and fashion brand, JD Sports.
DFS is taking a new lease on a 15,000 sq ft unit. The retailer will occupy 12,500 sq ft on the ground level of the new-build unit while its subsidiary brands Dwell and Sofa Workshop will share the unit. Dwell will occupy 8,000 sq ft of a mezzanine level and Sofa Workshop will occupy 2,500 sq ft at ground level. Planning consent for the new-build has recently been granted.
JD Sports has taken a 10-year lease on a 7,000 sq ft unit, which will include a further 3,000 sq ft mezzanine. This unit will link the two main terraces of this particular part of the site, improving connectivity.
Work on the unit is expected to complete in May.
Quadrant has now negotiated 10 deals – a mixture of new lets and extensions – with brands including: Currys, M&S Simply Food, Tapi Carpets, Oak Furnitureland, Sofology, Nandos, Costa Coffee and Smashburger.
Gallagher Shopping Park, acquired by KKR and Quadrant Estates in June 2014, is immediately adjacent to Junction 9 of the M6. The 200,000 sq ft retail park already has a strong mix of high profile tenants including: Next, TK Maxx, Outfit, Mamas and Papas, Boots, Furniture Village, SCS, Harveys, Burger King and Pizza Hut.
Quadrant Estates’ partner James Bidwell said: “DFS and JD Sports are fantastic additions to Gallagher Shopping Park’s line-up of leading leisure and retail brands. Our plans to invest and revitalise the park are coming to fruition.
“Works on the park will be completed in early summer 2017, and a number of new tenants will open for business at the same time. Overall the combination of improvements to the park and the quality of the tenant mix will help to ensure that Gallagher Shopping Park improves its position as a dominant out of town retail offer in the West Midlands.”
Montagu Evans and Wilkinson Williams acted for Quadrant Estates and KKR. BNP Paribas acted for DFS.
