Trinity Leeds nears capacity
LAND Securities today said its flagship Trinity Leeds shopping centre is 95% let.
The scheme, which opened in March is 94% let with another 1% in solicitors’ hands according to its owner, which issued a first quarter interim management statement this morning.
Land Securities said that 15 units in Trinity had opened since April 1.
The group, which owns a swathe of London office buildings in its portfolio as well as shopping centres across the UK, said that while the retail market “remains challenging” it is maintaining very high levels of occupancy within its shopping centres with its overall occupancy rate at 97.2% in its retail portfolio.
Chief executive Robert Noel said: “In London, demand is increasing and we remain confident that our portfolio is well positioned and our developments well timed. Overall, the retail market remains challenging but we are maintaining very high levels of occupancy in our centres and are pleased with our increased exposure to leisure.”
Its statement added: “Despite a number of retailers going into administration since 1 April including Dwell, Modelzone and Ortak, our units in administration were down at 2.2% at 30 June 2013 compared to 2.3% at 31 March 2013. Voids in our like-for-like portfolio were flat at 2.9%.
“The quarterly change in footfall in our shopping centres (also April to June 2013 compared to April to June 2012) was ahead of the national footfall data (-4.1%) at -2.9%.”
