The transformation of intu Watford is moving forward with several top names signing new leases including Jack & Jones, Tiger and Timberland. At the same time, the demolition has begun of Charter Place, marking the start of work on-site to create the much-anticipated extension to the existing prime shopping centre.
When complete, the enlarged intu Watford will be a vibrant, 1.4 million sq ft retail and leisure destination, boosting Watford’s position into the top 20 of the CACI retail ranking confirming it as a premium London destination. intu, the owner, developer and manager of many of the UK’s favourite shopping centres, is refurbishing the malls in the existing centre as well as redeveloping Charter Place.
Recognising the potential for the centre, further names have signed up, benefiting from the desirable location for retailers and adding to the strong tenant mix. The centre is anchored by John Lewis and Marks & Spencer along with Apple, Topshop, Zara, Next, H&M, Karen Millen and Primark. The new additions add to a string of leases secured during 2015 including Kurt Geiger, Thomas Sabo and New Look.
Appealing to a prosperous catchment from across North London and Hertfordshire, Buckinghamshire and Bedfordshire, the centre has more than 15 million customer visits each year. Of those customers, 83% are ABC1 and 70% are classified within the three most affluent ACORN categories.
Rebecca Ryman, regional director of intu, said: “We are working hard to create an outstanding retail and leisure destination for Watford. There’s already a strong tenant mix in the existing centre with great shops and restaurants. We’re continuing to look to the future, bringing in new retailers, working on transforming Charter Place, and ensuring we deliver compelling experiences for all our customers. The potential for the shopping centre and the town is considerable.”
Menswear retailer Jack & Jones has taken 2,200 sq ft of space on the upper mall. Timberland, in partnership with 73Retail Ltd, has signed a 10 year lease on a 2,280 sq ft unit on the lower mall.
Homeware and gifts retailer Tiger has signed an agreement to upsized to 3,500 sq ft from 2016 and has extended its lease by a further 10 years. The retailer is already popular in the centre and intu has helped it to rightsize its offer. The new store will be on the lower mall next to the new intu Watford extension, benefiting from footfall and demonstrating the interest by retailers in the redevelopment work.
Cath Kidston has taken space on the lower mall outside John Lewis. The retailer is the home of modern vintage including fashion, bags, home accessories and products for kids. The temporary area will give customers a chance to appreciate the range and quality of the Cath Kidston collection.
intu agents for intu Watford are Lunson Mitchenall and CWM. Jack & Jones was represented by CWM, Tiger was represented by Plus Shops Retail and Timberland was represented by SiteWorks Retail.
