Saturday, August 13, 2022

4 new tenants sign for Drake Circus

Shopping centre Drake Circus has signed contracts with four new tenants, owner British Land announced today.

Fashion retailer Bank was one of the four retailers to sign a 10-year lease with the 570,000 sq ft Plymouth-based shopping centre, taking a 5,345 sq ft store.

Perfume retailer The Fragrance Shop, jeweller Ernest Jones and telecommunications firm Everything Everywhere have also committed to opening stores at Drake Circus, while current tenant Carphone Warehouse has expanded into a double size unit.

Such news will be welcomed by EE customers following news last week that the retailer is to close 11 per cent of its store portfolio following a review of its retail operation, though the firm noted this was merely part of a “consolidation” strategy.

Property firm Land Securities, which released its financial results yesterday, has also seen success in lettings recently with soon-to-opened shopping centre Trinity Leeds now 90 per cent pre-let and Glasgow retail development 185-221 Buchanan Street 99 per cent pre-let before they open at the end of March.

Commenting on the Drake Circus lettings, British Land Asset Manager Lauren Obbard said: “Six years after opening, Drake Circus remains the West Country‘s dominant shopping destination, and continues to attract leading retailers.

“To maintain this position it is important we continue to evolve the centre‘s configuration, and create the right solutions for our tenants.”


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