River Island and Deichmann secure newly configured units at The Lanes in 2019
Capreon, the Noé Group real estate business, has today announced the reconfiguration of 51 Scotch Street (28,000 sq ft) into 3 new stores including a 10,000 sq ft flagship store for River Island and a 5,208 sq ft unit for Deichmann. The stores will be opening in the autumn of 2019.
River Island is relocating from its existing unit in Carlisle and upsizing to a 10,000-sq. ft. dual fronted flagship store (1c) in The Lanes Shopping Centre. Deichmann, the largest retailer of shoes and sportswear in Europe have taken Unit 1a, fronting onto New Lane.
The remaining unit created from the reconfiguration project will provide an additional 3,560 sq ft unit and presents an attractive opportunity for a new tenant to join an ever improving, catchment appropriate tenant mix.
Capreon came to the decision to reconfigure the units as a result of the changing needs of the incumbent tenant, New Look, combined with the additional interest in the centre from external retailers including River Island and Deichmann. The decision has enabled Capreon to both improve the tenant mix in the centre and retain a key high street retailer.
The reconfiguration project and the associated prelets follow on from other lettings in The Lanes during 2018 to retailers new to the City including Hotel Chocolat, Patisserie Valerie and Jack Wills, highlighting the appeal of the centre to both retailers and customers from a wide catchment area, in and around Carlisle.
In addition, Beadle and Hill, a longstanding local independent jeweller also recently relocated to The Lanes highlighting a growing trend amongst the city’s existing retailer base of moving from elsewhere in Carlisle city centre into The Lanes, which constitutes prime pitch in the city.
This letting activity comes at the end of a successful 2018 which also saw consumer footfall at the Lanes increase by 3% on 2017, bucking the national trend of a 1.8% decrease in footfall. These figures, together with the number of new retailers joining the Lanes, shows that despite challenging market conditions, the centre remains a consistently desirable destination for consumers and retailers alike.
The previous occupiers of 51 Scotch Street, New Look, were relocated within the centre to a 7,230-sq. ft. store at 8 Grapes Lane. This new unit is better suited the New Look’s current retail needs and New Look’s decision to remain at The Lanes in this new location highlights the importance of the Lanes as a hub for fashion retail in the North West.
Caroline Bridge, Senior Asset Manager at Capreon, said: “This reconfiguration is testament to the performance of the Lanes over the past year and a clear sign that the centre is developing its appeal to customers year on year. We are pleased to welcome River Island, Deichmann and Beadle and Hill to The Lanes who bring outstanding new offers to the centre. We have worked hard to improve the overall tenant mix over the past year and are very pleased to be able to retain New Look at The Lanes in a unit that fits their needs. We will continue to work to improve the customer experience at The Lanes by attracting exciting tenants though pro-active and innovative asset management.”