Community shopping centres stay steady

Published:  11 July, 2016

Need trumps uncertainty in wake of Brexit

Since Britain voted to leave the EU, there has been a distinct uncertainty as to how this will affect the shopping industry. For some retailers, however, business must carry on as consumer demands need to be met. Consequently, local and international retailers alike have continued in their plans to invest in the UK market, with leading community shopping centre investor Ellandi reportedly having signed 19 leases, totalling over 71,000 sq ft, since the vote. 

These deals encompassed a number of national and foreign retailers including Pandora, H & M, Superdrug, Poundland, Snap Fitness, Costa & Argos.

Mark Robinson, property director at Ellandi commented “It’s not just the volume of the deals that excites us, but the diversity of the tenants that remain committed to taking additional space despite recent political events.

“Having built the UK’s fourth largest shopping centre business in the shadow of the financial crash of 2008, we understand how these assets function in different cycles. We are confident that well managed, value based, convenient shopping at the heart of communities will continue to perform in a robust manner.”

British property developer Hammerson have declared that “Prime retail is still front of mind for expanding brands” having secured 7 lettings totalling 32,400 sq ft. since the Brexit vote.

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