Meadowhall to spend £50m to fight back against Leeds and Sheffield
BRITISH LAND, the owners of Sheffield’s Meadowhall Centre, is to invest £50m as it looks to respond to increased competition from Leeds and Sheffield city centres.
Meadowhall, which is 25 years old this year, was a landmark development for South Yorkshire and for the retail sector when it opened, but consumers have shifted back towards traditional town and city centres as shopping and leisure hubs.
Leeds has been transformed by Trinity Leeds and will benefit from John Lewis anchoring the Victoria Gate scheme when it opens next year. Similarly Sheffield is expected to soon see significant progress on its retail quarter development, after years of stalled plans.
In response, British Land wants its investment to reposition Meadowhall to make it more attractive to premium and lifestyle retailers.
“Across the retail portfolio, we are investing in our assets to ensure they reflect the way people shop today,” said Claire Barber, head of shopping centre asset management for British Land.
“The refurbishment of Meadowhall will reposition the centre to appeal to premium and lifestyle retailers as well as a broader range of customers. We are very excited about the future for Meadowhall and the experience this investment will create for both our customers and retailers.”
The two-year refurbishment programme of the centre’s 1.4m sq ft of space will begin in autumn and create distinct districts within the centre, each with a different finish including wood and punctured metal.
The works will also enable a number of retailers to install double height shop fronts.
A recent £3m investment in the Park Lane area of the centre was credited with attracting retailers including The White Company and Jigsaw. Restaurant chains Nando’s, Wagamama and Five Guys have also moved in to Meadowhall recently.
