Capital & Regional, the specialist retail property company, has secured Footasylum, one of the UK’s leading names in sportswear and fashion, for The Kingfisher Shopping Centre in Redditch.
Footasylum, which will be taking 3,500 sq ft of retail space on a 10-year lease, is set to open on Evesham Walk between Jack & Jones and Ed’s Diner. The brand launched in 2005 and the new store, which will be its 48th nationwide, is set to open at the end of the year.
This announcement follows two further lettings at the centre to Coffee#1, which has taken a 2,836 sq ft and Greggs, which has taken an additional 1,200 sq ft as it is upsizing to a larger unit totalling 3,368 sq ft.
Following successful trading, Roman Originals and Yours have also committed to new long-term leases and have invested heavily in refurbishing their new stores in the new shopping centre standards, which includes internal refitting and new double fronted shop fronts.
Capital & Regional and funds managed by Oaktree Capital Management, L.P. (Oaktree) have invested £12 million in the refurbishment and repositioning of The Kingfisher Shopping Centre since they formed a joint venture partnership to purchase the 920,000 sq ft scheme in 2012. Since then, Capital & Regional has successfully transformed the centre’s catering and leisure offer by establishing ‘The Hub’. This vibrant area includes brands such as Pure Gym, Nandos, Prezzo, Real China and a Vue cinema delivering a night-time economy for the town.
As well as revolutionising the centre’s restaurant and leisure provision, Capital & Regional has improved the scheme’s retail mix. Worcester Square has been given an extensive facelift, with a bold, modern interior and Evesham Walk has been transformed with improved sight-lines and contemporary, double storey shop fronts.
Sian Bowen, Retail Asset Manager for Capital & Regional, commented: “Footasylum offers the biggest names in sportswear, footwear and urban fashion apparel. The new unit located on the recently refurbished Evesham Walk is another welcome addition to The Kingfisher Shopping Centre’s strong and diverse retail proposition.
“We are also delighted to welcome Coffee#1 to the centre. We believe that this brand will complement and further strengthen our night-time economy and leisure mix, while also providing shoppers with a greater food and beverage offer.”
The Kingfisher is anchored by Debenhams, Marks & Spencer, Next and Primark and attracts over 10 million visitors a year.
Jackson Criss and KLM are the leasing consultants.