RPMI Railpen, advised by GCW and AS Retail, has signed up three major retailers for Portsmouth’s Cascades Shopping Centre.
Sports Direct, Flannels and USC will take over 50,000 square foot of combined trading space at unit 107 – the former BHS store – on a 10-year lease.
The deal is a major boost for the retail destination in its 30th year and also coincides with an internal refurbishment of the centre.
The three stores are all scheduled to open next spring.
The announcement follows news that German footwear company Deichmann will take 4,500 sq ft at the former USC store at unit 4/5 on a 10-year lease.
The new Sports Direct store will embody the retailer’s new store concept, as well as incorporating a dedicated floorspace for USC, which will house the latest streetwear collections.
In addition, Flannels will open a store offering customers its contemporary edit of luxury’s biggest names and emerging designers.
The three new stores will join existing tenants including Primark, H&M, and TK Maxx.
Emily Atkinson at RPMI Railpen said: “In its 30th year, Cascades continues to pick-up pace in terms of the breadth and diversity of its retail mix, as is reflected by Sports Direct, Flannels and USC taking such a significant store space. Our investment in the centre’s refurbishment will create an even more inviting atmosphere for consumers, providing a revitalised setting for these new retailers as well as neighbouring brands.”
Andrew Philip, centre manager at Cascades, said: “We’re delighted to be welcoming Sports Direct’s attractive portfolio into the shopping centre.
“They are a huge brand, and we know that our local shoppers will be pleased to see many top clothing brands, including its Flannels range, introduced when they open in 2020.
“There’s no doubt that this is a big addition to our sport and luxury retail offering at the shopping centre and is part of our commitment to offer not only the best, but most diverse shopping experience possible.”
CBRE advised Sports Direct.