Ethel Austin moves to Merrion
TOWN Centre Securities’ Merrion Centre development in Leeds has secured a high profile retail tenant.
In line with the retailer’s expansion plans, Ethel Austin has taken 3,611 sq ft on a five-year lease.
The deal comes after Home Bargains recently signed a 15 year lease deal to take the 15,158 sq ft former Woolworths store on an annual rent of £231,250.
Ethel Austin is due to open this month, with Home Bargains launching in April.
Savills represented Town Centre Securities on both deals, with Hartnell Taylor Cook and Bennett acting for Ethel Austin and Home Bargains respectively.
A comprehensive refurbishment programme is well underway at the Merrion centre in line with the developer Town Centre Securities’ asset management strategy to upgrade and improve the retail offer.
In the last three years, more than half of the 90 shop units have had new fit-outs.
Of the total 400,000 sq ft of retail and leisure space at the Merrion Centre, just 6,500 sq ft now remains available to let over five units.
Helen Beckett, of Town Centre Securities, said: “The Merrion Centre is continually evolving and these latest lettings will undoubtedly complement the existing tenant mix and subsequently further increase footfall at the centre.
“Our commitment to delivering the long-term refurbishment programme at the Merrion Centre, along with the scheme’s strategic positioning and unrivalled footfall, is evident in the centre’s continued success.”
Steve Henderson, associate director at Savills, added: ”The Merrion Centre has appealed to a wide range of retailers from local and regional to large national chains and it is this combination that has contributed to making the scheme a key retail destination in the city.”
