Telford leisure extension lets up
Published: 12 October, 2015
Sovereign Centros secures major restaurant brands at Telford shopping centre
Sovereign Centros has secured leasing agreements with TGI Friday’s, Prezzo and Handmade Burger Company, at its 26,500-sq ft Southern Quarter development at Telford Shopping Centre, Shropshire.
TGI Friday’s has signed a 15-year lease for 6,793 sq ft of space. Handmade Burger Company has also signed a 15-year lease for 3,500 sq ft of space, while Prezzo has signed a 20-year lease for 3,500 sq ft of space.
The new restaurants will be situated next to Telford’s 11-screen Imax Cineworld and will complement the existing popular food and beverage offering in Southwater. Construction work is due to start at the end of this month and it is expected that the restaurants will open from the autumn of 2016 onwards, enhancing Telford’s growing reputation as a leisure destination.
The 26,500 sq ft Southern Quarter is being built on the site of the former Focus DIY store which was demolished in 2014. The contemporary new building will feature an elegant, gently-curved frontage, creating a new landscaped public area and space for the restaurants and cafes to have extensive outside seating.
The Southern Quarter is the first phase of the multi-million pound development masterplan that is set to transform the shopping centre. The plans for phase two, the 70,000-sq ft Northern Quarter, were given the green light in August and will create up to seven new stores in a redevelopment of the old Asda supermarket.
Alexandra Pugh, leasing and asset manager at Sovereign Centros, said: “These three lettings total nearly 14,000 sq ft which means that the Southern Quarter is now almost 60 per cent pre-let. We have also received strong occupier interest for the two remaining restaurant units within the scheme and look forward to announcing further additions in the near future.”
CBRE and Cushman & Wakefield acted on behalf of the landlord.